https://www.miningweekly.com

St Barbara buys back A$40m of notes

18th July 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Australia-based gold miner St Barbara has repurchased an additional $40-million in senior secured notes, reducing its interest expenses by about A$4.7-million a year.

Settlement of the repurchased notes, at a 3.3% premium to par value, was expected to occur by July 20, the company reported on Monday.

Net payments were expected to amount to A$56-million, consisting of principal repayment and accrued interest.

St Barbara would fund the note repurchase from US dollar cash reserves generated from US dollar gold sales, bringing the company’s aggregate cash balance to about A$90-million.

St Barbara has now repurchased a cumulative $122-million in aggregate principal of the original $250-million of notes issued in March 2013.

The company repaid its $75-million Red Kite debt facility during in full during the past financial year, bringing its total repaid debt to $197-million since June, 2015.

St Barbara reported that $128-million of notes remained on issue.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

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 0.84s - 128pq - 2rq
Subscribe Now