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Prospect News home > News index > List of issuers B > Headlines for BHP Billiton Finance (USA) Ltd. > News item
Published on 9/17/2020 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

BHP Billiton gives early results of tenders for dollar, euro notes

By Sarah Lizee

Olympia, Wash., Sept. 17 – BHP Billiton Finance (USA) Ltd. and BHP Billiton Finance Ltd. announced the early results of their tender offers for up to $1.9 billion of two series of notes guaranteed by BHP Group Ltd. and BHP Group plc.

The offer includes BHPB Finance (USA)’s $2.25 billion of 6.75% subordinated non-call 10-year fixed-rate reset notes due 2075 (ISINs: US055451AX66, USQ12441AB91) and BHPB Finance’s €750 million of 5.625% subordinated non-call nine-year fixed-rate reset notes due 2079 (ISIN: XS1309436910).

The dollar notes were given acceptance priority above the euro notes.

By the early tender deadline, 5 p.m. ET on Sept. 16, $1,504,232,000, or 66.85%, of the 2075 notes, and €469,771,000, or 62.64%, of the 2079 notes were tendered under the offers.

The companies said they expect to accept for purchase all of the 2075 notes tendered by the early deadline, and €35,221,000 of the 2079 notes. A pro rata scaling factor of 9.48% is expected to be applied to the euro notes.

Pricing was expected to take place at 10 a.m. ET on Sept. 17.

The lead dealer managers are Deutsche Bank AG, London Branch (+44 20 7545 8011, 866 627-0391, 212 250-2955) and Merrill Lynch International (+44 20 7996 5420, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com), as well as J.P. Morgan Securities LLC for the dollar notes (866 834-4666, 212 834-3424) and J.P. Morgan Securities plc for the euro notes (+44 20 7134 2468; liability_management_EMEA@jpmorgan.com).

The tender and information agent is Lucid Issuer Services Ltd. (+44 20 7704 0880; bhp@lucid-is.com).

BHP Billiton is a diversified natural resources company based in Melbourne, Australia.


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