BELO HORIZONTE, Brazil (miningweekly.com) – Anglo American Capital on Monday secured $1.5-billion medium-term finance by issuing two senior notes - one of $850-million due in 2020 with a coupon of 3.625% and the second of $650-million due in 2025 at 4.875%, both guaranteed by the Anglo American group.
Interest will be paid twice yearly in arrears on May 14 and November 14 of each year, beginning on November 14.
The 2020 notes will mature on May 14, 2020, and the 2025 notes on May 14, 2025.
Anglo has the option to redeem all or part of the notes, which will rank equally with all of its other existing and future unsubordinated indebtedness.
Moody’s has given Anglo a credit rating of Baa2 (negative outlook) and Standard & Poor’s a BBB- (stable outlook).
The joint initial purchasers were JP Morgan, RBC Capital Markets, nab Securities, Scotia Capital, TD Securities and Westpac.