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(Alliance News) - Anglo-Australian miner BHP Group PLC on Tuesday announced the results of tender offer for dollar and euro debt notes.
BHP had invited holders of its USD2.25 billion fixed-rate reset notes due 2075, which have a coupon of 6.750% and USD745.8 million in an outstanding principal amount, to tender their notes. A total of USD492.7 million in tenders were accepted, leaving USD253.1 million outstanding, meaning 89% of all notes issued in the series have been bought back. The notes were purchased at USD1,216 per USD1,000 in the principal amount.
Also part of the repurchase offer were EUR750.0 million fixed-rate reset notes due 2079, which have a coupon of 5.625% and an outstanding principal amount of EUR714.7 million. A total of EUR461.1 million in tenders were accepted, leaving EUR253.6 million outstanding, meaning 66% of all notes issued in the series have been bought back. The notes were bought back at EUR1,812 per EUR1,000 of the principal amount.
As more than 80% of the dollar notes will now have been bought back, BHP said it intends to redeem the remaining notes. It may buy back further euro notes in the market but won't redeem the remainder.
Shares in BHP Group were up 4.3% at 1,754.20 pence in London on Tuesday. They were up 3.6% at ZAR358.06 in Johannesburg.
By Tom Waite; thomaslwaite@alliancenews.com
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