Xstrata launches $3bn bond sale
Anglo-Swiss miner Xstrata is to sell $3bn worth of bonds, which it plans to use to repay debt and for general corporate purposes.
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.
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- $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.
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