https://www.miningweekly.com

Sibanye launches $400m bond buyback

Sibanye CEO Neal Froneman

Sibanye CEO Neal Froneman

Photo by Creamer Media

4th September 2018

By: Reuters

  

Font size: - +

JOHANNESBURG – South African precious metals producer Sibanye-Stillwater, which is headed up by CEO Neal Froneman, said on Tuesday that it was launching a tender offer worth up to $400-million to buy back some of its bonds.

Sibanye, which plans to buy platinum producer Lonmin in a deal scheduled to close in the second half of the year, said the tender offer would allow it to retire around 31% of its long-term debt.

Up to $350-million of the tender offer applies to 6.125% bonds due June 27, 2022, and $50-million to 1.875% convertible bonds due Sept. 26, 2023.

Sibanye said in a statement that it would fund the tender offer from existing cash resources.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.056 0.872s - 110pq - 2rq
Subscribe Now