Gold Fields plans to refinance bank debt in Q3

Chicago, May 28 – Gold Fields Ltd. announced that as part of its effort to reduce net debt by $100 million to $150 million in 2019, the group is planning to refinance syndicated bank debt in the third quarter.

The company is actively working on extending the maturity of its debt profile. The effort has included a new bond issue for $1 billion of bonds, comprised of a five-year tranche and a 10-year tranche.

Additionally, the company successfully repurchased $250 million of its $852.39 million outstanding 4 7/8% guaranteed notes due 2020 issued by Gold Fields Orogen Holding (BVI) Ltd. on Friday.

The repayment of the remaining $600 million of those notes due in October 2020 is expected to come from a combination of available cash and bank debt facilities.

The company is a subsidiary of Johannesburg-based gold mining company Gold Fields.

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