BHP Raises $5 Billion as U.S. Mining Bond Spreads at 3-Month Low
This article is for subscribers only.
BHP Billiton, the world’s biggest mining company, priced $5 billion of notes in its biggest debt raising in more than 18 months, as relative yields on mining bonds in the U.S. were near the lowest level since June.
The four-part transaction follows a 750 million euro ($1 billion) note sale in April and a C$750 million ($727 million) deal by the Melbourne-based company in May, Bloomberg-compiled data show. BHP last sold into the U.S. market in February 2012, when it priced $5.25 billion of debt in a five-part sale.