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Gold Fields announces successful buyback of US$250m of 2020 notes

Monday, 27 May 2019

Johannesburg, 27 May 2019: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce the successful buyback of $250m of the outstanding 2020 notes at 102% of par as compared with a premium of 101.73% of par at the close of business on Friday, 24 May 2019. Following the bond issuances on 9 May 2019, Gold Fields commenced a tender process to buy back up to $250m of the 2020 notes.

The remainder of the 2020 notes ($600m), due in October 2020, is expected to be repaid from a combination of available cash and bank debt facilities.

The successful completion of the new bonds, as well as the buyback, helps Gold Fields achieve one of its key financial objectives for 2019 of extending the maturity of its debt profile. The final element is a refinancing of the syndicated bank debt which is expected to be completed in Q3 2019. In addition, the Group is targeting net debt reduction of $100-150m in 2019.


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