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Anglo secures $1.5bn medium-term finance

22nd May 2015

By: Martin Creamer

Creamer Media Editor

  

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Anglo American Capital last week secured $1.5-billion medium-term finance by issuing two senior notes – one of $850-million due in 2020 – with a coupon of 3.625%, and a second of $650-million due in 2025 at 4.875%, both guaranteed by the Anglo American group.

Interest will be paid twice yearly in arrears on May 14 and November 14 of each year, beginning on November 14.

The 2020 notes will mature on May 14, 2020, and the 2025 notes on May 14, 2025.

Anglo has the option to redeem all or part of the notes, which will rank equally with all its other existing and future unsubordinated indebtedness.

Moody’s has given Anglo a credit rating of Baa2 (negative outlook) and Standard & Poor’s a BBB- (stable outlook).

The joint initial purchasers were JPMorgan, RBC Capital Markets, nab Securities, Scotia Capital, TD Securities and Westpac.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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