Skip to content

BHP`s:Successful closure of US$1.2Billion Global Rev.Cr.Fac.

Document date:  Mon 27 Mar 2000
Published:  Mon 27 Mar 2000 16:37:55
Document No:  160181
Document part:  A
Market Flag:  N
Classification:  Issued Capital - Other


HOMEX - Melbourne                                                     

The Broken Hill Proprietary Company Limited (BHP) successfully closed
its latest debt financing facility, a US$1.2 Billion Global Revolving
Credit Facility, today Monday 27 March 2000.

The new facility forms BHP's primary bank credit arrangement and will
be the cornerstone of the Company's overall funding strategy. It
consolidates into one facility a number of existing standby and
revolving facilities and also replaces a US$800 Million Note Issuance
Facility, providing dedicated back-up support for BHP's Domestic, US
and Euro commercial paper programs.

The facility breaks new ground in providing in one facility the
multi-currency and multi-jurisdictional needs of BHP and its
subsidiaries around the world.

BHP Chief Financial Officer Chip Goodyear said: "The transaction
provides a flexible facility to meet a range of objectives and has
also allowed us to rationalise other financing arrangements. Given
our global operations, it was important to have the facility
available in various jurisdictions and currencies.

"Building partnerships with our stakeholders is an important
component of BHP's strategy. This Global Revolver is one of the
examples of how we are doing this to meet the funding requirements of
our business," he said.

The facility was jointly arranged by Citibank, NA and National
Australia Bank Limited. The agent is Citibank, NA.

The financiers are: ABN AMRO Australia Limited, ANZ Investment Bank,
Bank One NA, Banque Nationale de Paris, Barclays Capital, Bank of
Tokyo-Mitsibishi (Australia) Ltd, The Chase Manhatten Bank, Citibank,
NA, Commonwealth Bank of Australia, Credit Suisse First Boston,
Deutsche Bank AG, HSBC Bank Plc, IBJ Australia Bank Limited, Morgan
Guaranty Trust Co, National Australia Bank Limited, RBC Dominion
Securities, UBS Australia Limited and Westpac Banking Corporation.


Media Relations:     Mandy Frostick
                     MANAGER MEDIA RELATIONS
                     Ph:   +61 3 9609 4157
                     Mob:  +61 419 546 245

Investor Relations:  Rob Porter
                     Ph:    61 3 9609 3540
                     Mob:   61 419 587 456