FACTBOX-Miners' balance sheets, fund raising

May 1 (Reuters) - Several mining groups have moved to 
bolster their balance sheets, but others still have high debt 
levels. 
    Following is a table of the debt position of major 
diversified mining groups, followed by details of recent actions 
to raise funds or refinance debt. The net debt figures are in 
billions and gearing is net debt to total capital in percent at 
end 2008. Data come from company reports. 
     
    Company               Net Debt       Gearing  
    BHP Billiton            $4.2          10 
    Vale                    $5.6          12   
    Anglo American          $11.0         38 
    Xstrata                 $16.3         40 
     after rights issue     $12.6         30 
    Rio Tinto               $38.7         63 
     
    BHP BILLITON 
    BHP Billiton  , the world's largest mining 
group, raised about $6.3 billion in bonds in March, including 
2.25 billion euros in three and seven-year bonds and $3.25 
billion in five and 10-year notes. 
     
    VALE 
    Vale  , the world's biggest iron ore 
producer, had total debt of $18.2 billion at the end of last 
year, offset by $12.6 billion in cash. 
     
    ANGLO AMERICAN 
    Anglo American   raised $3.7 billion by 
issuing bonds in April and $1.8 billion in March by selling its 
remaining stake in AngloGold Ashanti .  
    Analysts said issuing bonds extended its debt profile and 
lessened chances it would have to raise money through a dilutive 
rights issue. 
    The group said on April 30 that it had uncommitted bank 
facilities and cash of over $9 billion. 
     
    XSTRATA  
    Xstrata  raised $5.9 billion in March through a 
two-for-one rights issue. The firm said it would use most of the 
proceeds to reduce debt. 
     
    RIO TINTO 
    Rio Tinto   has the highest gearing of major 
diversified mining groups due to debt it took on to fund its 
purchase of aluminium producer Alcan in 2007. 
    The group agreed a $19.5 billion deal in February to sell 
China's Chinalco stakes in major mines and convertible bonds, 
but it still needs approval from regulators and shareholders. 
The proceeds would be enough to make debt payments due in this 
year and in 2010. 
    In April, Rio issued $3.5 billion of fixed rate bonds, 
prompting some analysts to say a revival of the bond market gave 
Rio more options if shareholders voted down the controversial 
Chinalco deal. 
     
    DEBT REFINANCING 
    LONMIN 
    Lonmin   said on April 23 it had agreed a 
$575 million refinancing package. 
    It consisted of a $250 million revolving credit facility and 
a $150 million amortising term loan in the UK, both maturing in 
November 2012, and a $175 million revolving credit facility in 
South Africa, maturing in November 2010.  
     
    TECK COMINCO 
    Canada's Teck Cominco  said on April 21 its lenders 
had agreed to defer $4.4 billion in debt payments due in 2009.