Gold Fields Secures New Loan Facility
JOHANNESBURG, July 6, 2011 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it has secured a 5-year US$1 billion revolving credit facility. The loan will replace a US$450 million three-year facility with September 2013 maturity.The new facility, agreed by Gold Fields with a syndicate of fourteen banks, was oversubscribed by 1.33 times.
The loan carries an interest rate of between 120 basis points and 160 basis points over the London Interbank Offered Rate (Libor) depending on the level of utilisation. The funds will be used for general corporate purposes and working capital requirements.
'This facility gives our balance sheet greater liquidity as we accelerate our global expansion programme,' said Gold Fields CFO Paul Schmidt. 'The new loan bears a lower interest rate than the previous facility and significantly improves our debt maturity profile,' he added.
Notes to editors
About Gold Fields
Gold Fields is one of the world's largest unhedged producers of gold with attributable annualised production of 3.6 million gold equivalent ounces from eight operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility, with construction decisions expected in the next 18 to 24 months. Gold Fields has total attributable gold equivalent Mineral Reserves of 76.7 million ounces and Mineral Resources of 225.4 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities Limited
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Gold Fields Limited, Reg. 1968/004880/06, 150 Helen Road, Sandown, Sandton, 2196 ; Postnet Suite 252, Private Bag X30500, Houghton, 2041, South Africa, Tel +27-11-562-9700, Fax +27-11-562-9838, http://www.goldfields.co.za; Enquiries: Investor Enquiries: Zakira Amra, Tel +27-11-562-9775, Mobile +27(0)79-694-0267, email Zakira.Amra@goldfields.co.za; Nikki Catrakilis-Wagner, Tel +27-11-562-9706, Mobile +27(0)83-309-6720, email Nikki.Catrakilis-Wagner@goldfields.co.za; Willie Jacobsz, Tel +508-839-1188, Mobile +857-241-7127, email Willie.Jacobsz@gfexpl.com; Media Enquiries, Sven Lunsche, Tel +27-11-562-9763, Mobile +27(0)83-260-9279, email Sven.Lunsche@goldfields.co.za
