| Wed 21 Apr 2010, 8:00 | | ANG - Anglogold Ashanti Secures Us$1 Billion Four-Year Revolving Credit |
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ANG
ANANO
ANG - Anglogold Ashanti Secures Us$1 Billion, Four-Year Revolving Credit
Facility
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number: ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti/Company")
ANGLOGOLD ASHANTI SECURES US$1 BILLION, FOUR-YEAR REVOLVING CREDIT FACILITY
(JOHANNESBURG) --- AngloGold Ashanti has secured a US$1 billion, four-year
unsecured revolving credit facility (RCF) from its banking syndicate, to
refinance its existing unsecured revolving credit facility that matures in
The new RCF, agreed with a group of 16 banks, replaces a three-year facility
of US$1.15 billion that was due to mature in December 2010. About
US$700 million of the existing RCF is currently drawn.
The RCF was oversubscribed by about 1.6 times, allowing the company to
significantly scale back the commitments of each of its lenders.
"It`s an enormous vote of confidence for the company and its strategy that
this facility generated this level of interest from such a large group of top-
tier international banks,`` Srinivasan Venkatakrishnan, AngloGold Ashanti`s
chief financial officer, said. ``This not only removes refinancing risk for
us well ahead of the scheduled maturity date, but also advances our financial
strategy of increasing the term of our debt in line with our long life
assets.``
The RCF is charged at 175 basis points above the London Interbank Offered
Rate and carries a commitment fee of 40 percent of margin.
The syndicate comprises as mandated lead arrangers: Australia and New Zealand
Banking Group, Barclays Capital, Bank of America, Bank of Montreal, The Bank
of Tokyo-Mitsubishi UFJ, CIBC World Markets, Citibank International,
Commonwealth Bank of Australia, Goldman Sachs International, Morgan Stanley,
FirstRand Bank acting through Rand Merchant Bank, Royal Bank of Canada,
Scotiabank, Standard Chartered Bank and UBS. Deutsche Bank AG is the co-
arranger and Barclays Bank PLC is the agent.
ENDS
JOHANNESBURG
21 April 2010
Contacts
Tel: Mobile:
Alan Fine (Media) +27(0)116376383 +27(0)833250757
E-mail: fine@AngloGoldAshanti.com
Stewart Bailey (Investors) +1 212 836 4303 +1 646 338 4337
or +27 82 330 9628
E-mail: sbailey@anglogoldashanti.com
Certain statements made in this communication, including, without limitation,
those concerning AngloGold Ashanti`s strategy to reduce its gold hedging
position including the extent and effects of the reduction, the economic
outlook for the gold mining industry, expectations regarding gold prices,
production, cash costs and other operating results, growth prospects and
outlook of AngloGold Ashanti`s operations, individually or in the aggregate,
including the completion and commencement of commercial operations of certain
of AngloGold Ashanti`s exploration and production projects, the resumption of
production at AngloGold Ashanti`s mines in Ghana, the completion of announced
mergers and acquisitions transactions, AngloGold Ashanti`s liquidity and
capital resources, and expenditure and the outcome and consequences of any
litigation proceedings or environmental issues, contain certain forward-
looking statements regarding AngloGold Ashanti`s operations, economic
performance and financial condition. Although AngloGold Ashanti believes that
the expectations reflected in such forward-looking statements are reasonable,
no assurance can be given that such expectations will prove to have been
correct. Accordingly, results could differ materially from those set out in
the forward-looking statements as a result of, among other factors, changes
in economic and market conditions, success of business and operating
initiatives, changes in the regulatory environment and other government
actions including environmental approvals and actions, fluctuations in gold
prices and exchange rates, and business and operational risk management. For
a discussion of certain of these factors, refer to AngloGold Ashanti`s annual
report for the year ended 31 December 2009, which was distributed to
shareholders on 30 March 2010. The company`s annual report on Form 20-F, was
filed with the Securities and Exchange Commission in the United States on
April 19, 2010. AngloGold Ashanti undertakes no obligation to update publicly
or release any revisions to these forward-looking statements to reflect
events or circumstances after today`s date or to reflect the occurrence of
unanticipated events. All subsequent written or oral forward-looking
statements attributable to AngloGold Ashanti or any person acting on its
behalf are qualified by the cautionary statements herein.
AngloGold Ashanti posts information that is important to investors on the
main page of its website at www.anglogoldashanti.com and under the
"Investors" tab on the main page. This information is updated regularly.
Investors should visit this website to obtain important information about
AngloGold Ashanti.
Date: 21/04/2010 08:00:07 Produced by the JSE SENS Department.
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