Xstrata taps bond market
Mining leviathan Xstrata is to tap the bond market with the issue of three-year, five-year, 10-year and 30-year notes through its subsidiary Xstrata Finance (Canada) Limited.
Mining leviathan Xstrata is to tap the bond market with the issue of three-year, five-year, 10-year and 30-year notes through its subsidiary Xstrata Finance (Canada) Limited.
The dollar denominated issue of notes in four tranches will raise $4.5bn, split as follows: $1.25bn 1.8% guaranteed notes due October 2015; $1.75bn 2.45% guaranteed notes due October 2017; $1bn 4.0% guaranteed notes due October 2022; and $0.5bn 5.3% guaranteed notes due October 2042.
The net proceeds raised will be used to repay existing debt and for general corporate purposes.
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
JH
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Ofgem proposes new energy tariffs with low or no standing changes
Standing charges have invited public backlash as households battle high energy bills
By Katie Williams Published
-
Google shares bounce on Gemini 2.0 launch
Google has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
By Dan McEvoy Published