Friday, gold producer AngloGold Ashanti Ltd. (AU) said it entered into a US$1 billion term loan facility agreement with Standard Chartered Bank (STAN.L) to refinance its convertible bond.
AngloGold Ashanti noted that the term facility is available to be drawn during February 2009 to pay back US$1 billion convertible bond due on February 27, 2009 issued by AngloGold Ashanti Holdings Plc and guaranteed by AngloGold Ashanti.
The gold miner noted that the term facility is for an initial one-year period from the date of the first draw down in February 2009, which can be extended, if necessary, at the choice of AngloGold Ashanti until November 30, 2010.
The terms and covenants of the term facility are similar to those of AngloGold Ashanti's existing US$1.15 billion Revolving Credit Facility, the company stated.
Chief executive officer Mark Cutifani, said, "The terms of the Standard Chartered facility will, at a time when liquidity is scarce and markets are uncertain, improve our financial flexibility and provide management with additional time to secure a longer term, cost-effective refinancing while continuing to optimise and enhance operations and grow cash flow."
AU closed Thursday's session at $13.71, down $0.72 or 4.99%, on a volume of 2.33 million shares.
STAN.L closed Thursday's regular trading at 737 pence, up 2 pence or 0.27%, on a volume of 5.37 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.