Gold Fields Closes Debut US$1bn Bond

Oct 08, 2010, 06:11 ET from Gold Fields Limited

JOHANNESBURG, October 8, 2010 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI), last week announced a 10-year, US$1 billion bond offer to international investors. The transaction was successfully completed yesterday.

This transaction was executed on 30 September 2010, where the final order book was more than two times oversubscribed from high quality accounts. The final coupon of 4.875% per annum is the lowest US$ rate achieved by a South African corporate in the international bond market this year.

Paul Schmidt, Chief Financial Officer, said: "The 10 year tenor of this bond will fit nicely in with our long term quality assets without increasing the group's debt position. Gold Fields will have more than $1.3 billion of committed bank facilities available after the net proceeds of the bond have been used to refinance some bank facilities and commercial paper notes in issue. The bond significantly strengthens our liquidity and debt maturity profile. "

This press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase the securities mentioned in this announcement (the "Securities") in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and have not and may not be offered or sold, directly or indirectly, in or into the United States absent registration or an applicable exemption from the registration requirements under the Securities Act. There will be no public offer of Securities in the United States.

Notes to editors

About Gold Fields

Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.5 million gold equivalent 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 nearmine exploration projects at various stages of development. Gold Fields has total attributable gold equivalent Mineral Reserves of 78 million ounces and Mineral Resources of 281 million ounces. Gold Fields is listed on JSE Limited (primary listing), the New York Stock Exchange (NYSE), the NASDAQ Dubai Limited, the Euronext in Brussels (NYX) and the Swiss Exchange (SIX).

SOURCE Gold Fields Limited