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Gold Fields raises $1bn in two new bonds - Mining Weekly

Thursday, 9 May 2019

South Africa-headquartered Gold Fields has concluded the raising of two new bonds totalling $1-billion.

The new bonds comprise a $500-million, five-year bond with a coupon of 5.12% and a $500-million, ten-year bond with a coupon of 6.125%. The average coupon was 5.625%.

 The final combined book for the bond issues was more than $3-billion, the JSE- and NYSE-listed company said on Thursday.

The proceeds of the raising would be used to repay amounts outstanding under the $1.29-billion credit facilities agreement and to refinance or repurchase certain other existing indebtedness.

In conjunction with the issuance, and as part of the use of proceeds, Gold Fields also announced a tender offer for up to $250-million of the outstanding 4.875% 2020 bonds at a price of 102%. 

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