BHP Billiton raises 1bn Aussie dollars

BHP Billliton priced a five-year one billion Australian dollar note on Monday issued under its Australian Medium Term Note programme.

According to a report in the Wall Street Journal, the world's largest miner by value sold the five-year bonds at 0.90 percentage points over the underlying swap rate, tighter than original guidance of 0.95 percentage points, demonstrating keen investor demand.

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

China's slowing economy is generally bad news for Australia's mining industry. With commodity prices easing attempts are being made to cut costs.

In late afternoon trade, BHP Billiton was up 30.50p, or 1.59%, at 1,953.5p.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.