South Africa-headquartered Gold Fields has concluded the raising of two new bonds totalling $1-billion.
The new bonds comprise a $500-million, five-year bond with a coupon of 5.12% and a $500-million, ten-year bond with a coupon of 6.125%. The average coupon was 5.625%.
The final combined book for the bond issues was more than $3-billion, the JSE- and NYSE-listed company said on Thursday.
The proceeds of the raising would be used to repay amounts outstanding under the $1.29-billion credit facilities agreement and to refinance or repurchase certain other existing indebtedness.
In conjunction with the issuance, and as part of the use of proceeds, Gold Fields also announced a tender offer for up to $250-million of the outstanding 4.875% 2020 bonds at a price of 102%.