Published: August 23, 2013
Miner offered to buy back all guaranteed 2014 convertible bonds.
South African gold mining company Anglogold Ashanti has announced the results of its tender offer to buy back all outstanding guaranteed convertible bonds due for 2014.
The company will buy US$725.9mn of bonds at US$1,015 for each US$1,000 principal amount. It will also pay accrued and unpaid interest on these bonds. After all bondholders had accepted or declined the offer, there remains a principle amount of US$6.6mn in outstanding bonds. The settlement date of the offer is 23 August.
The company, in June, had to write down the value of its assets by between US$2.2bn and US$2.6bn. It has also been downgraded to junk by Standard and Poor’s.