BHP in R32bn bond buyback as profits soar on price rally
The buyback, aimed at reducing debt and interest payments, has been capped at $1.9bn, excluding interest
02 September 2020 - 13:28
BHP Group plans to buy back up to $1.9bn (R32bn) of its bonds as the global mining heavyweight, with a secondary listing on the JSE, delivers bumper profits on the back of a surge in industrial metal prices.
The company, alongside rivals such as Anglo American, is flush with cash as metal prices stage a dramatic rebound from historic lows reached in March on expectations of a similar bounce back in the world economy that is being fed by huge industrial stimulus. ..
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