AngloGold Ashanti had launched a $750 million (R6.3 billion), five-year loan to its existing lending group via co-ordinators and bookrunners Barclays and Bank of Tokyo-Mitsubishi UFJ, banking sources said yesterday.
The new revolving loan facility was an early refinancing of a $1bn four-year deal maturing in April 2014 and could be increased during syndication, the bankers said.
“The timing is right, as the future is uncertain and the market is still generally open on a good level for African deals,” one banker said.
AngloGold was aiming for a fast turnaround, with the signing expected to take place next month.
The gold producer was not available for comment. The original $1bn loan was led by bookrunner Bank of Tokyo-Mitsubishi UFJ.
Other mandated arrangers were ANZ Banking Group, Bank of America Merrill Lynch, Bank of Montreal, Bank of Nova Scotia, Barclays, CIBC World Markets, Citi, Commonwealth Bank of Australia, Goldman Sachs, Morgan Stanley, Rand Merchant Bank, Royal Bank of Canada, Standard Chartered Bank, UBS. Co-arranger was Deutsche Bank.
Uranium and gold miner First Uranium recently approved the sale of its Mine Waste Solutions operation and the Ezulwini mine to AngloGold and Gold One International for $335m and $70m, respectively.