AngloGold Ashanti to redeem 35% of 8½% bonds via rights issue; loan paydown also an option

By Susanna Moon

Chicago, Sept. 10 – AngloGold Ashanti Ltd. said it plans to use proceeds of a rights issue to redeem its notes or pay down loans.

The company plans to redeem 35% of its 2020 8½% bonds under the provisions that allows the company to redeem bonds from the proceeds of an equity offering, according to a company press release.

The company also may repay amounts drawn under revolving credit facilities or use the funds to further strengthen its balance sheet, the release noted.

AngloGold Ashanti is a gold producer based in Johannesburg.

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