Northam issues R250 million of domestic medium term notes
Shareholders are referred to the Northam SENS announcement dated 5 February 2016, wherein shareholders were advised that the company had entered into a subscription agreement with the Industrial Development Corporation of South Africa (“IDC”) in terms of which the IDC agreed to subscribe for R250 million three year senior unsecured floating rate notes (“notes”).
Northam is pleased to announce that the company has successfully raised the term debt referred to above through the issue of R250 million notes under its R2 billion Domestic Medium Term Note Programme dated 3 August 2012. The notes will attract a floating coupon rate of 11.208% (3 month JIBAR as at 8 June 2016 plus 390 bps) and will mature on 9 June 2019.
The notes will be listed today, Friday, 10 June 2016 on the Interest Rate Market of the JSE Limited. The first interest payment date will be 9 September 2016.
- Northam applicable pricing supplement (PDF - 96KB)
10 June 2016
Arranger, Dealer, JSE Sponsor and Debt Sponsor
Legal Advisor to Northam in respect of the Notes
Bowman Gilfillan Inc.