Anglo American plc completes $2.5 billion Revolving Multicurrency Credit Facility
09 July, 2004
Anglo American plc is pleased to announce that it has successfully completed a $2.5bn revolving multicurrency dual tranche credit facility.
The new facility is for general corporate purposes including refinancing of existing facilities and will represent Anglo American's core corporate facility. The transaction was self arranged with 16 core relationship banks taking an equal participation in the new facility.
The facility is split between a $0.75bn 364-day revolving credit with a 12-month term-out and extension options and a $1.75bn five-year revolving credit. Pricing on the 364-day tranche is set at 22bp over Libor with a 6.5bp commitment fee and on the five-year tranche at 27bp above Libor with a 9.5bp commitment fee. In the event that drawings exceed one half of the facility amount then a 5bp utilisation fee is payable.
The 16 banks appointed as Mandated Lead Arrangers are: BBVA, The Bank of Tokyo-Mitsubishi, Barclays Capital, BNP Paribas, Citigroup, Deutsche Bank AG, Dresdner Kleinwort Wasserstein, HSBC, JP Morgan, Mizuho, Morgan Stanley, National Australia Bank, The Royal Bank of Scotland, Sumitomo Mitsui Banking Corp, UBS Investment Bank and WestLB.
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