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AngloGold Ashanti wraps tender offer for 5 1/8% notes due 2022
Chicago, Oct. 27 – South Africa’s AngloGold Ashanti Holdings plc announced the final results of its cash tender offer for any and all of the $750 million outstanding 5 1/8% notes due 2022 (ISIN: US03512TAC53), according to a company news release on Monday.
The notes are guaranteed by AngloGold Ashanti Ltd.
As of the 5 p.m. ET expiration time on Friday, noteholders had tendered $307,106,000 of the notes and another $30,000 via guaranteed delivery procedures, which were delivered. The company accepted all $307,136,000 of the notes for purchase.
Reported on Friday, AngloGold is offering to buy the notes at $1,034.51 per $1,000 principal amount of notes. The price was determined by using the 0.125% U.S. Treasury due July 31, 2022’s 0.105% reference yield plus 50 basis points. Pricing was determined at 10 a.m. ET on Oct. 22.
Interest will also be paid to the settlement date, but no additional interest will be paid to the guaranteed delivery settlement date.
The company was seeking to extend its debt maturity profile by buying the 2022 notes and offering new debt securities.
The tender offer was subject to a financing condition of the sale of at least $750 million of new notes. The company priced that amount of notes on Oct. 19, satisfying the condition.
Settlement for the tender offer was set for Oct. 25.
The guaranteed delivery deadline was 5 p.m. ET on Oct. 26, with settlement for that tender method on Oct. 27.
The dealer managers are Barclays (+44 20 3134 8515, eu.lm@barclays.com), BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), J.P. Morgan Securities plc (+44 20 7595 8222, em_europe_lm@jpmorgan.com) and Merrill Lynch International (+44 20 7996 5420, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com).
D.F. King & Co., Inc. (212 269-5550, 877 783-5524, +44 20 7920 9700, anglogold@dfking.com, www.dfking.com/anglogold) is the information and tender agent for the offer.
AngloGold Ashanti is a Johannesburg-based gold producer.
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