The bonds, with a maturity of 10 years, will be raised in US dollars and have been registered on the SEC, the company said.
BHPB will also register to have the bonds listed on the Luxembourg Stock Exchange.
The issuer of the notes will be BHP Billiton Finance, and BHP Billiton Plc and BHP Billiton Limited will guarantee the notes.
The bonds have been rated by Standard & Poor's as A (positive outlook) and by Moody's as A2 (stable outlook).
The joint book runners for the issue are Citigroup and JP Morgan.
BHP Billiton shares are currently trading at $9.37 on the Australian Stock Exchange.
