Johannesburg - Sibanye Gold [JSE:SGL] plans to raise $1bn from shareholders and a further $1bn in debt, most likely bonds, to pay for the acquisition of Colorado-based Stillwater Mining.
The funds will be raised by the middle of this year and will help repay a $2.65bn bridge loan from a group of banks, Westonaria, South Africa-based Sibanye said in a statement on Tuesday.
The remainder of the loan will be repaid through a combination of sources such as commodity-streaming deals, the company said.
READ: Sibanye gets nod to buy US mine, despite Trump's tough talk
When Sibanye announced the $2.2bn purchase in December, it said it planned to raise $750m to $1bn from shareholders before saying in February it may increase this amount to $1.3bn.
The company received approval for the purchase of the US’s only platinum and palladium miner on April 14. Sibanye shareholders vote on the deal April 25.
Read Fin24's top stories trending on Twitter: Fin24’s top stories