JOHANNESBURG, May 24 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it has secured a US$450 million revolving credit loan maturing 30 September 2013 to refinance a US$311 million one-year facility that expired in May 2010. Gold Fields was seeking a minimum of US$300 million from the banks approached to support the revolving credit loan.
The new facility, agreed by Gold Fields with a "club" of nine banks, is charged at 175 basis points above the London Interbank Offered Rate (Libor). This facility, which is currently undrawn, is for general corporate purposes and working capital requirements.
"The favourable response from the banks 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 production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. Gold Fields is listed on JSE Limited (primary listing), the New York Stock Exchange (NYSE), the Dubai International Financial Exchange (DIFX), the Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information please visit the Gold Fields website at http://www.goldfields.co.za
* Based on the annualised run rate for the second quarter of
SOURCE Gold Fields Limited
For further information: For further information: Enquiries - Investor Enquiries: Willie Jacobsz, Tel (508) 839-1188, Mobile (857) 241-7127, email Willie.Jacobsz@gfexpl.com; Nikki Catrakilis-Wagner, Tel +27-11-562-9706, Mobile +27(0)83-309-6720, email Nikki.Catrakilis-Wagner@goldfields.co.za; Media Enquiries: Sven Lunsche, Tel +27-11-562-9763, Mobile +27(0)83-260-9279, email Sven.Lunsche@goldfields.co.za