As the Eurozone appears to be heading over the event horizon into a black hole of debt, investors are wondering where to put their money. Cue, stage left, BHP Billiton, the global mining giant.
BHP is entering the bond market to raise $3bn for what it describes for "general corporate purposes" and to pay back outstanding debts.
There will be three tranches: $1,000m at 1.125% due 2014, $750m at 1.875% due 2016, and $1,250m at 3.250% due in 2021.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
BHPS's share price was down 1.48% in morning trading.
BS
-
Will Poland’s new president stifle its stock market’s winning streak?Poland’s stock market has outperformed many of its European peers, but with a newly-elected populist President at odds with a Liberal government, what lies ahead?
-
Fund flows rose in April but did investors sell in May?ISA season prompted the highest level of inflows into investment funds during April but the mood may have changed in May
