AngloGold Ashanti eyes alternative ways to refinance convertibles

By Angela McDaniels

Tacoma, Wash., Oct. 30 - AngloGold Ashanti Ltd. said its plans to refinance its $1 billion 2.375% convertible bonds due 2009 with the proceeds of a new equity-linked instrument have been upset by the volatile global capital market conditions.

In light of the recent conditions, the company said it is actively exploring a broader range of refinancing options, including bridge financing, further debt financing and additional asset sales, as well as reviewing discretionary capital expenditures.

AngloGold Ashanti is a gold producer based in Johannesburg.

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