Posted in | Earnings

Gold Fields Announces Closing of US$1 Billion Transaction

Gold Fields Limited (JSE, NYSE, NASDAQ Dubai: GFI), last week announced a 10-year, US$1 billion bond offer to international investors. The transaction was successfully completed yesterday.

This transaction was executed on 30 September 2010, 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 US$ 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 $1.3 billion 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."

Source: Gold Fields Limited

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Gold Fields Limited. (2019, February 18). Gold Fields Announces Closing of US$1 Billion Transaction. AZoMining. Retrieved on May 22, 2019 from https://www.azomining.com/News.aspx?newsID=524.

  • MLA

    Gold Fields Limited. "Gold Fields Announces Closing of US$1 Billion Transaction". AZoMining. 22 May 2019. <https://www.azomining.com/News.aspx?newsID=524>.

  • Chicago

    Gold Fields Limited. "Gold Fields Announces Closing of US$1 Billion Transaction". AZoMining. https://www.azomining.com/News.aspx?newsID=524. (accessed May 22, 2019).

  • Harvard

    Gold Fields Limited. 2019. Gold Fields Announces Closing of US$1 Billion Transaction. AZoMining, viewed 22 May 2019, https://www.azomining.com/News.aspx?newsID=524.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit