Fin24

De Beers signs $2bn debt deal

2011-11-01 16:34

London - Diamond producer De Beers, 45% owned by miner Anglo American [JSE:AGL], has signed a $2bn debt deal to refinance existing debt and fund growth.

De Beers said the new $2bn multicurrency credit facility would be split between an $800m loan maturing in March 2015 and a $1.2bn revolving credit facility maturing in October 2016.

The proceeds will refinance an existing $3bn multicurrency revolving facility and a $200m loan agreement, and will be used for “general corporate purposes”.