The Australian dollar notes will pay interest at 3% and mature in March 2020.
Proceeds will be used for general corporate purposes.
The last time BHP issued Australian notes was in October 2012.
The issue comes only a day after smaller iron ore rival Fortescue Metals Group was forced to pull a planned note offer in the US due to unfavourable terms.
IG Market’s Evan Lucas said unless a resources company offered attractive yield, as was the case with BHP and Rio Tinto, investors seemed uninterested.
