Anglo-Swiss miner Xstrata is to sell $3bn worth of bonds, which it plans to use to repay debt and for general corporate purposes.
The bonds will be issued in four-tranches, comprising 3 year, 5 year, 10 year and 30 year notes.
The transaction covers:
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
- $800m 2.85% guaranteed notes due November 2014
- $700m 3.60% guaranteed Notes due January 2017
- $1,000m 4.95% guaranteed Notes due November 2021
- $500m 6.00% guaranteed Notes due November 2041.
They will be issued through the firm's subsidiary Xstrata Finance (Canada) Limited.
Xstrata is currently rated Baa2 with a positive outlook by the Moody's rating agency and BBB+ with a stable outlook by Standard and Poor's.
-
ScottishPower launches half-price electricity at weekendsNews ScottishPower is offering 50% off electricity at weekends, which could slash hundreds off your bill. We look at who can get it and how to apply
-
Trump calls “tariff” the “most beautiful word in the dictionary”, but investors may disagreeDonald Trump has promised to slap Mexico, Canada and China with new tariffs on day one of his presidency. What does it mean for the economy and investors?
