BHP Group Limited (BHP) has conducted a bond offer and successfully priced US$4.75 billion of senior unsecured bonds in the US market.
The bonds will be issued by BHP Billiton Finance (USA) Limited, a wholly owned subsidiary of BHP, under BHP’s US debt registration statement, which was filed with the US Securities and Exchange Commission on 22 February 2023. The bonds will be guaranteed by BHP.
The bond offer comprises five tranches of bonds. The principal amount, tenor and coupon for each tranche of bonds are:
- US$850 million three-year bonds priced at a fixed coupon of 5.250% maturing in 2026
- US$700 million five-year bonds priced at a fixed coupon of 5.100% maturing in 2028
- US$900 million seven-year bonds priced at a fixed coupon of 5.250% maturing in 2030
- US$1.5 billion ten-year bonds priced at a fixed coupon of 5.250% maturing in 2033
- US$800 million thirty-year bonds priced at a fixed coupon of 5.500% maturing in 2053
BHP intends to use the proceeds from the bonds, together with cash on hand, if applicable, to repay the acquisition facility used for the acquisition of OZ Minerals Ltd and for other general corporate purposes.
Settlement of the bonds is expected to occur on 8 September 2023, subject to customary closing conditions.
This announcement is not an offer to sell or the solicitation of an offer to buy securities. The offer is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The offer is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling Citigroup Global Markets Inc. at 1-800-831-9146, Deutsche Bank Securities Inc. at 1-800-503-4611, Goldman Sachs & Co. LLC at 1-866-471-2526, J.P. Morgan Securities LLC at 1-212-834-4533 or Scotia Capital (USA) Inc. at 1-800-372-3930.
No offer to sell, invitation or the solicitation of an offer to purchase, or invitation to purchase these securities will be made, nor shall any sale of these securities be made, in any jurisdiction in which such offer, invitation, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
