Herbert Smith Freehills on $1 Billion BHP Bond Issue
The offering is part of a $5 billion medium-term note program the mining giant established earlier this month.
By Jessica SeahOctober 19, 2012
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Herbert Smith Freehills has advised Melbourne-based mining giant BHP Billiton Ltd. on a $1 billion bond issue on the Australia Securities Exchange.
The Australian dollar-denominated bonds will pay interest at 3.75 percent and mature in 2017. Proceeds from the issue will be used for general corporate purposes.
The offering is part of a $5 billion medium-term note program the company established earlier this month. The issue was underwritten by Australia and New Zealand Banking Group and Commonwealth Bank of Australia, who did not engage outside counsel for the deal.
The Herbert Smith Freehills team was led by partner Andrew Booth in Melbourne.
The former Freehills, whose merger with U.K. firm Herbert Smith became official this month, enjoyed close ties to BHP. From 2007 to 2010, Mike Ferraro, now global corporate head of the combined firm, served as the company’s general counsel.
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