21st Sep 2020 12:52
(Alliance News) - Anglo-Australian mining company BHP Group PLC on Monday said it has given notice of its intention to redeem its USD1.00 billion 6.250% subordinated non-call 5 fixed-rate reset notes due 2075.
The notes are to be redeemed at their outstanding principal amount plus any unpaid interest accrued.
On Friday, the miner announced the pricing and early acceptance of tenders for its multi-currency note repurchase plan.
It said the USD2.25 billion in notes, at a yield of 0.263%, will have an early consideration of USD1,230.38 per USD1,000, with a final acceptance amount of USD1.50 billion. The principal amount outstanding after early settlement will be USD745.8 million.
For the EUR750.0 million notes with a negative yield of 0.451%, these will have an early consideration of EUR1,182.01 per EUR1,000 with a final acceptance amount of EUR35.3 million. The principal amount outstanding after early settlement is USD745.8 million.
The early settlement date for the notes is expected to be September 21 with both of these offers scheduled to expire September 30.
BHP shares were down 3.1% in London midday Monday at 1,713.20 pence. They were down 2.3% in Johannesburg at ZAR366.19.
By Anna Farley; [email protected]
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