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BHP Group Announces Subordinated Note Repurchase Plan - Quick Facts

BHP Group PLC (BHP.AX,BLT.L,BBL,BHP) said its Board has approved a global multi-currency subordinated note repurchase plan, targeting US dollar and euro subordinated notes issued in 2015 and subject to an aggregate cash spend cap of $1.9 billion. In connection with this, BHP plans to redeem the $1 billion 6.250 percent. Subordinated Non-Call 5 Fixed Rate Reset Notes due 2075, issued by BHPB Finance (USA) Limited, on their First Reset Date on 19 October 2020.

BHP said, through the subordinated note repurchase plan, it targets to reduce the Group's gross debt balance, reduce associated interest costs and enhance capital structure.

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