Platinum group metals miner Northam has completed a private placement of domestic medium-term notes to the value of R1.35-billion in an oversubscribed bookbuild, under its R5-billion domestic medium-term note programme.
The proceeds from the new notes will be applied towards Northam’s revolving credit facility (RCF), thereby increasing the available undrawn balance and lowering the effective cost of funding under the RCF over time.
Following the placement of the new notes, the total nominal value of notes in issue under the programme will amount to R3.68-billion.