2nd Sep 2020 11:51
(Alliance News) - BHP Group PLC on Wednesday said it has approved an up to USD1.9 billion subordinated note repurchase plan targeting US dollar and euro notes issued in 2015.
The Anglo-Australian mining firm's global multi-currency repurchase plan will be funded using surplus cash and is aimed as reducing BHP's gross debt balance and interest costs, as well as enhancing its capital structure.
Alongside this, BHP intends to redeem its USD1.00 billion 6.250% subordinated non-call 5 fixed rate reset notes due 2075 on their first reset date of October 19, 2020. This will also use available cash.
Shares in BHP were up 1.4% in London at 1,776.44 pence but were down 0.1% in Johannesburg at ZAR388.29.
By Anna Farley; [email protected]
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