By Aleesia Forni
Virginia Beach, Va., July 25 - AngloGold Ashanti Holdings plc (Baa3/BB+/) priced $1.25 billion 8½% seven-year notes at par on Thursday, according to a company news release and an FWP filing with the Securities and Exchange Commission.
Price talk was set at 8½% to 8¾%.
The SEC-registered notes will be non-callable for three years.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. acted as the joint bookrunners.
The company plans to use the proceeds to repurchase its 3½% guaranteed convertible bonds due May 2014, as well as for other general corporate purposes.
The notes feature a put at 101% in the event of a change of control that leads to a ratings downgrade.
AngloGold Ashanti is a Johannesburg-based gold producer.
| Issuer: | AngloGold Ashanti Holdings plc
|
| Guarantor: | AngloGold Ashanti Ltd.
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Maturity: | July 30, 2020
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co.
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Spread: | 647.7 bps over Treasuries
|
| Make-whole: | 50 bps over Treasuries until July 30, 2016
|
| Call: | Beginning July 30, 2016 at 106.375, then at 104.25, 102.125 and par beginning July 30, 2019 and thereafter
|
| Optional redemption: | Up to 35% at 108.5 with proceeds of eligible equity offering
|
| Trade date: | July 25
|
| Settlement date: | July 30
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
| Price talk: | 8½% to 8¾%
|
| Distribution: | SEC registered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
