Harmony Gold secures new syndicated loan facilities of USD 500 million, AUD 500 million and ZAR 7 billion
HMY•New syndicated facilities completed
Harmony Gold concluded new syndicated multi-tranche, multi-currency loan facilities totalling USD 500 million, AUD 500 million and ZAR 7 billion.
The facilities refinance the 2022 USD and rand syndicated loans, refinance the MAC Copper acquisition bridge facility and fund general corporate purposes.
Facility structure and lender support
The structure includes revolving credit facilities in USD, AUD and ZAR, plus term loans in AUD and ZAR, with maturities of up to 6.5 years.
Four sustainability-linked loans carry 3-year terms with two 1-year extension options; pricing steps by up to 5 bps based on KPIs.
The financing was about three times oversubscribed with about 93% lender participation. Citi and Nedbank acted as joint global coordinators.
