[miningmx.com] — GOLD FIELDS LIMITED announced on Friday it has successfully completed a 10-year, $1bn bond offering to international investors which it announced last week.
This transaction was executed on September 30, where the final order book was more than two times oversubscribed from high quality accounts. The final coupon of 4.875% per annum is the lowest dollar rate achieved by a South African corporate in the international bond market this year.
Paul Schmidt, chief financial officer, said: “The 10-year tenor of this bond will fit nicely in with our long term quality assets without increasing the group’s debt position.
Gold Fields will have more than $1.3bn of committed bank facilities available after the net proceeds of the bond have been used to refinance some bank facilities and commercial paper notes in issue. The bond significantly strengthens our liquidity and debt maturity profile.”
