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Johannesburg - Resources group Anglo American plc (AGL) on Tuesday announced an increase of its convertible bond offering to $1.7bn following the exercise of an over-allotment
option. The original amount had been $1.5bn, but Anglo indicated
on April 16 that it could increase to $1.7bn.
Anglo announced the full exercise of the over-allotment option
(greenshoe) by Goldman Sachs International and Morgan Stanley & Co
International plc, on behalf of the managers, following the successful offering of its convertible bonds on April 16, increasing the overall size of the offering to $1.7bn.
Goldman Sachs International, acting as Stabilising Manager has informed Anglo American that it has not to date carried out any stabilisation activities.
The offering was lead-managed by Goldman Sachs International and Morgan Stanley & Co International plc acting as Joint Lead-Managers and Joint Bookrunners, with BNP Paribas and UBS Limited as Co-Lead Managers.
Anglo said last week that it made the offering in order to further strengthen its balance sheet, diversify its sources of funding and lengthen its debt maturity profile. The proceeds of the offering will be used for general corporate purposes.
- I-Net Bridge