BHP has issued a five year billion note issue.
It will come under its Australian Medium Term Note program, and will pay interest at three per cent, maturing in March 2020, with funds going towards general corporate purposes.
The announcement comes as Fortescue pulls its massive multi-billion dollar note offering on US markets.
According to the miner "the company's disciplined cost objectives were not met".
Fortescue cited increased market volatility, however analysts state the market set a shorter term and higher level for the repayment of interest than FMG was willing to accept.