[miningmx.com] – BHP Billiton is seeking to refinance a $5bn loan obtained in 2010 as banks start to offer companies with investment grade ratings the lowest borrowing costs in more than five years, said Bloomberg News.
Citing a company statement, the newswire said BHP Billiton will seek a $6bn credit line and had hired Deutsche Bank and Royal Bank of Scotland Group to arrange the facility, a five-year revolving credit facility.
BHP Billiton is offering to pay an initial interest margin of 20 basis points, or 0.2 percentage points, more than benchmark rates on the loan, said Bloomberg News citing people familiar with the terms.
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