Xstrata to launch £1bn bond issue

Anglo-Swiss miner Xstrata said it was set to sell $3bn (£1bn) worth of bonds and planned to use the proceeds to repay debt and for general corporate purposes.

The FTSE 100 company said on Friday that it planned to launch $3bn worth of notes in four tranches with maturities of 3 years, 5 years, 10 years and 30 years through its subsidiary Xstrata Finance.