Media release: Northam places R1.35 billion of domestic medium-term notes
- 20 Nov 2019
Johannesburg, Wednesday 20 November 2019. Northam is pleased to announce that it has completed a private placement of domestic medium-term notes to the value of R1.35 billion in an oversubscribed bookbuild, under Northam’s R5 billion domestic medium-term note programme. The New Notes were issued today on the Interest Rate Market of the JSE Limited as announced on SENS on 19 November 2019 and will mature two years from the date of issue. The New Notes attract a floating rate coupon of 2.50% per annum above a three-month ZAR-JIBAR and interest will be payable quarterly.
The proceeds from the New Notes will be applied towards Northam’s revolving credit facility, thereby increasing the available undrawn balance and lowering the effective cost of funding under the RCF over time.
Following the placement of the New Notes, the total nominal value of Notes in issue under the Programme will amount to R3.675 billion.
Issued by R&A Strategic Communications, Johannesburg, Tel +27 (0)11 880 3924;
Marion Brower +27 71 493 0387