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(Alliance News) - BHP Group PLC on Thursday revealed the early results of its subordinated note repurchase plan targeting dollar and euro notes issued in 2015, with tenders exceeding the offer cap of USD1.90 billion.
In early September, the Anglo-Australian mining firm's subsidiaries had made a repurchase offer for its USD2.25 billion 6.750% subordinated non-call ten fixed rate reset notes due 2075 and its EUR750 million 5.625% subordinated non-call nine fixed rate reset notes due 2079.
In the US dollar denominated notes, the principal amount of notes tendered came up to USD1.50 billion, reflecting 67% of the total amount. For the euro notes, EUR469.8 million, or 63% of the notes have been validly tendered for repurchasing.
Deutsche Bank AG, Merrill Lynch International, JP Morgan Securities acted as dealer managers for the tender offer.
Shares in BHP were down 1.7% at 1,768.40 pence in London, while its Johannesburg shares were down 2.0% at ZAR371.60 on Thursday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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