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Johannesburg, April 22, 2010 (ABN Newswire) - AngloGold Ashanti Ltd. (
ASX:AGG) (NYSE:AU) said on Wednesday that it has secured a US$1 billion, four-year unsecured revolving credit facility (RCF) for a syndicate of 16 banks.
The RCF replaces a three-year facility of US$1.5 billion that matures in December 2010. The Johannesburg-based company said about US$700 million of the existing facility is currently drawn.
AngloGold said this not only removes refinancing risk for the company well ahead of the scheduled maturity date, but also advances its financial strategy of increasing the term of debt in line with its long life assets. The RCF was oversubscribed by about 1.6 times, allowing the company to significantly scale back the commitments of each of its banks, AngloGold said.
ASX:AGG) (NYSE:AU) said on Wednesday that it has secured a US$1 billion, four-year unsecured revolving credit facility (RCF) for a syndicate of 16 banks. The RCF replaces a three-year facility of US$1.5 billion that matures in December 2010. The Johannesburg-based company said about US$700 million of the existing facility is currently drawn.
AngloGold said this not only removes refinancing risk for the company well ahead of the scheduled maturity date, but also advances its financial strategy of increasing the term of debt in line with its long life assets. The RCF was oversubscribed by about 1.6 times, allowing the company to significantly scale back the commitments of each of its banks, AngloGold said.
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