BHP Billiton stuns with bumper hybrid

摘要

Bhp billiton, the world's biggest mining company, raised US$6.42bn-equivalent last week through one of the largest hybrid bond issues ever seen from the corporate sector. The deal defied sceptics who doubted that even a mining company of BHP's calibre could pull off a hybrid trade in the wake of this year's dramatic decline in commodity prices. The multi-currency bond offering - with euro, sterling and US dollar tranches - showed that investors are still willing to add risk in the battered metals and mining sector at the right price.