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.
BHP typically borrows in large volumes in the US and European debt markets.
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
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.
CM
-
What Disney tells us about how we draw investment conclusions -
High pension fees could take £70k from your retirement pot – time to check what you’re payingEight out of 10 savers have no idea what fees they are paying to their pension provider to manage their retirement fund, and these charges can vary wildly.
