https://www.engineeringnews.co.za

St Barbara becomes cash positive

18th November 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner St Barbara will repurchase an additional $33-million of its senior secured notes, which will place the company in a net cash positive position.

The miner told shareholders on Friday that the notes would be repurchased at a 3.3% premium to par value, which was the optional redemption price from mid-October under the notes agreements.

The note repurchase would reduce future interest expenses by about A$3.9-million a year, St Barbara said, with the company adding the net repayment for the repurchase was anticipated to be some A$34-million, consisting of a principal repayment, premium and accrued interest.

The repurchase would be funded from the company’s cash reserves generated from gold sales.

By the end of December, St Barbara will have repurchased $210-million in aggregate principal of the original $250-million notes issued by the company in March 2013, with $40-million of the notes remaining on issue.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
Flanders Electrical SA
Flanders Electrical SA

FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.044 0.696s - 140pq - 2rq
Subscribe Now