BHP Billiton Prices EUR 2.0 Bln Hybrid Notes And GBP 600 Mln Hybrid Notes

(RTTNews) - Anglo-Australian mining giant BHP Billiton (BHP, BLT.L, BHP.AX, BBL, BHPBF) has priced 2.0 billion euros of subordinated fixed rate reset notes in the Euro market across two tranches and 600 million pounds of subordinated fixed rate reset notes in the Sterling market.

The issuance of these hybrid notes comprises of 1.250 billion euros in a 60.5NC5.5 maturity bearing an initial coupon of 4.750%, paid annually; 750 million euros in a 64NC9 maturity bearing an initial coupon of 5.625%, paid annually; 600 million pounds in a 62NC7 maturity bearing an initial coupon of 6.500%, paid annually.

Settlement of the notes is expected to occur on 22 October 2015, in each case subject to customary closing conditions.

The company stated that it will use the proceeds for general corporate purposes, which may include, without limitation, the repayment of existing debt of the BHP Billiton Group.