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BHP Group Limited — Capital/Financing Update 2017
Aug 31, 2017
14787_rns_2017-08-31_b192942e-61c3-4f9b-a72f-ec027d5a98cc.pdf
Capital/Financing Update
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NEWS RELEASE
Release Time IMMEDIATE[1] Date 31 August 2017 Release Number 27/17
BHP announces increased Offer Cap in U.S. bond repurchase plan
BHP Billiton Finance (USA) Limited (the Company ), a wholly-owned subsidiary of BHP Billiton Limited, today announced the Offer Cap for the tender offers for its US$529,978,000 3.250% Senior Notes due 2021, its US$859,938,000 2.875% Senior Notes due 2022 and its US$1,500,000,000 3.850% Senior Notes due 2023 (the Tender Offers ).
The Offer Cap amount is an aggregate purchase price (excluding accrued and unpaid interest) of the global aggregate cap less the aggregate purchase price (excluding accrued and unpaid interest) of the notes validly tendered and accepted for purchase in the previously announced tender offers for notes outstanding under BHP’s Euro Medium Term Note Programme (the Euro Tender Offers ).
BHP will spend US$1,941,124,380.13 purchasing notes under the Euro Tender Offers.
Following the strong participation in the Euro Tender Offers, BHP is pleased to announce that it has increased the global aggregate cap from US$2,500,000,000 to US$ 2,941,124,380.13. The Offer Cap amount for the repurchase of Notes in the Tender Offers is therefore US$1,000,000,000.
The Tender Offers have been made pursuant to the terms and conditions set forth in the offer to purchase, dated 21 August 2017 (the Offer to Purchase ). Terms not defined in this announcement have the meanings given to them in the Offer to Purchase.
Legal Notices
This announcement is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. This announcement does not describe all the material terms of the Tender Offers and no decision should be made by any Holder on the basis of this
1 This release was made outside the hours of operation of the ASX market announcements office.
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announcement. The terms and conditions of the Tender Offers are described in the Offer to Purchase. This announcement must be read in conjunction with the Offer to Purchase. The Offer to Purchase contains important information which should be read carefully before any decision is made with respect to the Tender Offers. If any Holder is in any doubt as to the contents of this announcement, or the Offer to Purchase, or the action it should take, it is recommended to seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Tender Offers.
None of the Company, the Guarantors, the Dealer Managers or their affiliates, their respective boards of directors, the Tender and Information Agent, the Notes trustee or any of their respective affiliates makes any recommendation, or has expressed an opinion, as to whether or not Holders should tender their Notes, or refrain from doing so, pursuant to the Tender Offers. Each Holder should make its own decision as to whether to tender its Notes and if so, the principal amount of the Notes to tender.
The Company has not filed this announcement or the Offer to Purchase with, and they have not been reviewed by, any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Tender Offers, and it is unlawful and may be a criminal offense to make any representation to the contrary.
The Offer to Purchase does not constitute an offer to purchase Notes in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer under applicable securities or blue sky laws. The distribution of the Offer to Purchase in certain jurisdictions is restricted by law. Persons into whose possession the Offer to Purchase comes are required by each of the Company, the Guarantors, the Dealer Managers and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions.
United Kingdom. The communication of the Offer to Purchase and any other documents or materials relating to the Tender Offers is not being made by, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended. Accordingly, the Offer to Purchase and such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of the Offer to Purchase and such documents and/or materials as a financial promotion is only being directed at and made to (i) persons who are outside the United Kingdom, (ii) investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended ( Financial Promotion Order )), (iii) high net worth entities and other parties falling within Article 49(2)(a) to (d) of the Financial Promotion Order, or (iv) any other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as Relevant Persons )
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and the transactions contemplated herein will be available only to, and engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act on or rely on the Offer to Purchase or any of its contents.
Australia. No prospectus or other disclosure document (as defined in the Corporations Act 2001 (Cth) (“Corporations Act”)) in relation to the Tender Offers has been or will be lodged with the Australian Securities and Investments Commission (“ASIC”) or any other regulatory authority in Australia and this Offer to Purchase does not comply with Division 5A of Part 7.9 of the Corporations Act. In addition:
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no offers or applications will be made or invited for the purchase of any and all Notes in Australia (including an offer or invitation which is received by a person in Australia); and
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the Offer to Purchase and any other offering material or advertisement relating to any and all Notes will not be distributed or published in Australia, unless (i) such action complies with all applicable laws, directives and regulations (including, without limitation, the licensing requirements set out in Chapter 7 of the Corporations Act); (ii) such action does not require any document to be lodged with ASIC or any other regulatory authority in Australia; and (iii) the offer or invitation is made in circumstances specified in Corporations Regulation 7.9.97.
If you are a resident of Australia, you have been sent the Offer to Purchase on the basis that you are a wholesale client for the purposes of Section 761G of the Corporations Act or otherwise a person to whom disclosure is not required under Part 6D.2 or Chapter 7 of the Corporations Act.
The Global Coordinators and Lead Dealer Managers for the Tender Offers are:
Deutsche Bank Securities UBS Investment Bank 60 Wall Street, 2nd Floor 5 Broadgate New York, New York 10005 London EC2M 2QS USA United Kingdom Attn: Liability Management Group Attn: Liability Management Group Collect: +1 (203) 719-4210 Collect: +1 (212) 250-2955 U.S. Toll-Free: +1 (888) 719-4210 U.S. Toll-Free:+1 (866) 627-0391 In Europe: +44 20 7568 2133 Email: [email protected]
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The Lead Dealer Managers for the Tender Offers are:
J.P. Morgan
383 Madison Avenue New York, New York 10179 USA
Attn: Liability Management Group Collect: +1 (212) 834-8553 U.S. Toll-Free: +1 (866) 834-4666 Email: [email protected]
MUFG
1221 Avenue of the Americas, 6th Floor New York, New York 10020 USA Attn: Liability Management U.S.: +1 (212) 405-7481 U.S. Toll-Free: +1 (877) 744-4532 Int’l: +44 20 7577 4048/4218 Email: [email protected]
The Co-Dealer Managers for the Tender Offers are: BBVA Mizuho Securities SMBC Nikko 1345 Avenue of the 320 Park Avenue 277 Park Avenue Americas, 44[th] Floor New York, New York 10022 New York, New York 10172 USA New York, New York 10105 USA USA
The Tender and Information Agent for the Tender Offers is:
Global Bondholders Services Corporation 65 Broadway – Suite 404 New York, New York 10006 Attention: Corporate Actions Bank and Brokers Call Collect: (212) 430-3774 All Others Please Call Toll-Free: (866) 470-3800 Fax: (212) 430-3775 or (212) 430-3779
Further information on BHP can be found at: bhp.com
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Media Relations
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Ben Pratt Tel: +61 3 9609 3672 Mobile: +61 419 968 734
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North America
Bronwyn Wilkinson Mobile: +1 604 340 8753
Judy Dane Tel: +1 713 961 8283 Mobile: +1 713 299 5342
BHP Billiton Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015
Investor Relations
Email: [email protected]
Australia and Asia
Tara Dines Tel: +61 3 9609 2222 Mobile: +61 499 249 005
Andrew Gunn Tel: +61 3 9609 3575 Mobile: +61 402 087 354
United Kingdom and South Africa
Rob Clifford Tel: +44 20 7802 4131 Mobile: +44 7788 308 844
Elisa Morniroli Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
Americas
James Wear Tel: +1 713 993 3737 Mobile: +1 347 882 3011
BHP Billiton Plc Registration number 3196209 LEI 549300C116EOWV835768 Registered in England and Wales Registered Office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Group which is headquartered in Australia
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