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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| BHP Group Limited | ASX:BHP | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.28 | -0.65% | 43.06 | 43.05 | 43.07 | 43.39 | 43.00 | 43.30 | 6,441,541 | 07:40:38 |
From May 2023 to May 2024
By Christian Moess Laursen
BHP said a Brazilian court has approved the judicial reorganization plan of its joint venture Samarco, allowing it to implement a debt restructure plan.
BHP, the world's biggest miner by market value, said Monday that the restructure of the mining company's debt is expected to be completed in the first half of 2024.
Under the restructure, Samarco's existing financial debt will be unchanged for up to $3.7 billion of long-term unsecured debt.
Samarco--a 50-50 joint venture of BHP Brasil and Vale--filed for judicial reorganization in April 2021 after several enforcement actions by financial creditors which threatened its operations.
The new long-term debt will remain non-recourse to Samarco's shareholders, BHP Brasil and Vale, BHP said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
September 04, 2023 03:28 ET (07:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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