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Published on 10/22/2021 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily, Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

AngloGold Ashanti prices offer to buy its 5 1/8% notes due 2022

By Rebecca Melvin

Concord, N.H., Oct. 22 – South Africa’s AngloGold Ashanti Holdings plc announced pricing of its offer to purchase any and all of the $750 million outstanding 5 1/8% notes due 2022 (ISIN: US03512TAC53), according to a company release on Friday.

The notes are guaranteed by AngloGold Ashanti Ltd.

AngloGold is offering to buy the notes at $1,034.51 per $1,000 principal amount of notes. The price was determined by using the 0.125% U.S. Treasury due July 31, 2022’s 0.105% reference yield plus 50 basis points. Pricing was determined at 10 a.m. ET on Oct. 22.

The offer expires at 5 p.m. ET on Oct. 22, which is also the withdrawal deadline.

As previously reported, interest will also be paid to the settlement date, but no additional interest will be paid to the guaranteed delivery settlement date.

The company seeks to extend its debt maturity profile by buying the 2022 notes and offering new debt securities.

The tender offer is subject to a financing condition of the sale of at least $750 million of new notes.

If the financing condition is satisfied, the company intends to redeem any remaining outstanding securities after the tender offer, under the notes’ make-whole redemption feature.

The tender results will be announced on Monday, which is the settlement date.

The guaranteed delivery deadline is 5 p.m. ET on Oct. 26, with settlement for that tender method on Oct. 27.

The dealer managers are Barclays (+44 20 3134 8515, eu.lm@barclays.com), BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), J.P. Morgan Securities plc (+44 20 7595 8222, em_europe_lm@jpmorgan.com) and Merrill Lynch International (+44 20 7996 5420, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com).

D.F. King & Co., Inc. (212 269-5550, 877 783-5524, +44 20 7920 9700, anglogold@dfking.com, www.dfking.com/anglogold) is the information and tender agent for the offer.

AngloGold Ashanti is a Johannesburg-based gold producer.


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