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.

JH

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