(Alliance News) - Anglo American PLC on Monday announced the launch of a tender offer capped at USD1.00 billion, through the issue of two series of US dollar-denominated notes and one series of euro-denominated notes.
The first US dollar series has an outstanding principal amount of USD750.0 million, with a coupon of 5.375% and a maturity date of April 1, 2025. The notes will be purchased for the hypothetical consideration of USD1,156.20 per USD1,000 in the principal amount.
The second US dollar series has a principal amount of USD650.0 million outstanding, a coupon of 4.875%, and a maturity date of May 14, 2025. The notes are to be purchased for the hypothetical consideration of USD1,143.13 per USD1,000 in the principal amount.
Meanwhile, the euro notes have an outstanding principal amount of EUR600.0 million, with a coupon of 1.625% and a maturity date of September 18, 2025. The notes will be bought for a hypothetical payment of EUR1,069.49 per EUR1,000 of the principal amount.
The tenders offers are part of the miner's ongoing balance sheet management, and will look to manage the company's cost of debt and reduce its refinancing risk.
The offer is expected to close on June 14.
Shares in Anglo American were marginally lower at 3,265.00 pence on Monday in London, while its Johannesburg shares were up 0.6% at ZAR651.00.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Anglo American (AAL)
