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Sibanye Stillwater完成1.01亿美元黄金预付款交易,对信贷设施进行再融资

2024-08-21 20:21

Sibanye Stillwater (NYSE:SBSW) said Wednesday it finalized a 1.8B South African rand (~$101M) gold prepayment deal to raise cash to help repay loans, after earnings plunged due to the collapse in platinum group metal prices.

Sibanye (SBSW) said it will deliver 1,497 kg of gold in equal monthly tranches from October 2024 to November 2026 to an undisclosed offtaker in return for the prepaid cash.

The gold prepayment is "a proactive, strategic financing alternative, that improves the group's liquidity and strengthens the balance sheet while retaining leverage to potential increases in the gold price," CEO Neal Froneman said.

Sibanye (SBSW) also said it reached an agreement to refinance and increase its 5.5B rand revolving credit facility with South African lenders to 6B rand.

The revolver had been due to mature in November, but the refinanced facility will mature in August 2027 and may be extended through two further one-year extensions.

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