The South Africa-headquartered company yesterday announced the pricing of an offering of US$700 million aggregate principal amount of 3.75% notes due 2030.
The offering is expected to close on October 1 and Anglo said the net proceeds would be used to repay a portion of the outstanding borrowings under a $1.4 billion revolving credit facility, which would remain the company's primary short-term funding facility.
It said its undrawn $1 billion syndicated bridge loan facility, originally entered into in April to provide additional financial flexibility amid the uncertainty of the COVID-19 pandemic, would be automatically cancelled in an amount equal to the net proceeds from the offering.
AngloGold's move follows First Quantum Minerals upsizing a senior notes offering earlier this month from $1 billion to $1.5 billion.
First Quantum said it intended to use the proceeds to repay a $650 million principal amount under its existing revolving credit facility and redeem its outstanding senior notes due 2022.
AngloGold reinstated and trimmed 2020 production guidance last week as COVID-19 uncertainty wanes.
The sale of its assets in South Africa to Harmony Gold Mining is scheduled to close today.
Its shares (JSE: ANG) closed up 1.6% in Johannesburg to 44,522c and the company is capitalised at R186.3 billion (US$11 billion).