AngloGold Ashanti concludes securities buy out
JOHANNESBURG (miningweekly.com) – JSE-listed gold miner AngloGold Ashanti has agreed to buy a principal amount of securities worth $779-million, validly tendered and not validly withdrawn by the expiration date – 23.59 New York time on Wednesday – for outstanding notes due in 2020.
The company said it expected to settle the offer on Friday.
AngloGold initially offered $810-million for 8 500% in outstanding notes on August 24.
The offer sought to buy the notes from each registered holder of securites by the miner’s wholly owned subsidiary AngloGold Ashanti Holdings, an Isle of Man company limited by shares.
Holders who validly tendered and did not validly withdraw their securities on September 9 and whose securities had been accepted for purchase would receive $1 075 for every $1 000 principal amount. This included an early tender premium of $30 for every $1 000 principal amount of securities accepted for purchase.
Holders who validly tendered their securities after September 9 and at or before the expiration date, and whose securities had been accepted for purchase, would receive the tender consideration of $1 045 for every $1 000 principal amount.
In addition to the total consideration or the tender consideration, as applicable, holders whose securities had been accepted for purchase would also receive accrued and unpaid interest from the last interest payment date of the securities up to, but not including, the settlement date.
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