SIBANYE GOLD LIMITED - Sibanye receives affirmative credit ratings ahead of bond issue

Sibanye receives affirmative credit ratings ahead of bond issue

Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye”, “the Company” and/or “the Group”)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES OF AMERICA (EXCEPT TO QUALIFIED INSTITUTIONAL BUYERS), AUSTRALIA,
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Sibanye receives affirmative credit ratings ahead of bond issue

Westonaria, 7 June 2017. Sibanye is pleased to announce that it has received a Ba2
rating from Moody’s Investors Service (“Moody’s”) with a stable outlook and a B+
rating with a positive outlook from S&P Global Ratings (“S&P”).

In assigning the Ba2 (stable) corporate family rating to Sibanye, Moody’s noted
that it reflects Sibanye’s solid business profile underpinned by diversified metal
production revenues, as well as the Company’s track record of setting and sticking
to conservative financial policies. The ratings outlook assumes Sibanye will:
“deleverage as planned, following the addition of the Stillwater acquisition debt
and the successful integration of the new mining assets”.

S&P noted that the assigned B+ (positive) rating reflects its view that Sibanye
will: “generate positive discretionary cash flow after the Stillwater acquisition
that should enable it to gradually reduce leverage in line with its stated financial
policy”.

“The affirmative credit ratings endorse Sibanye’s maturing business model and the
value that is being created by our recent acquisitions. Refinancing the Stillwater
acquisition bridge facility is a key focus area of ours and hence these ratings are
a positive step forward in establishing an appropriate long-term capital structure
for Sibanye.” said Neal Froneman, CEO of Sibanye.

Sibanye also announces it has mandated Citi, HSBC, Barclays as Global Coordinators
and Bookrunners, as well as Credit Suisse and Standard Bank as Bookrunners of a
proposed US$1bn bond offering, the rating of which is expected to be in line with
the newly obtained corporate ratings. The proceeds of the issuance will be used to
refinance part of the bridge loan facility obtained by Sibanye to finance the
acquisition of Stillwater Mining Company.


ENDS



Contact
James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za

Sponsor: J.P. Morgan Equities South Africa Proprietary Ltd

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Forward-looking Statements
This announcement includes “forward-looking statements” within the meaning of the
“safe harbour” provisions of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking statements may be identified by the use of words such
as “target”, “will”, “would”, “forecast”, “expect”, “plans”, “potential”, “intend”,
“estimate”, “anticipate”, “can” and other similar expressions that predict or
indicate future events or trends or that are not statements of historical matters.
The forward-looking statements set out in this announcement involve a number of
known and unknown risks, uncertainties and other factors, many of which are
difficult to predict and generally beyond the control of Sibanye, that could cause
Sibanye’s actual results and outcomes to be materially different from historical
results or from any future results expressed or implied by such forward-looking
statements. These forward-looking statements speak only as of the date of this
announcement. Sibanye undertakes no obligation to update publicly or release any
revisions to these forward-looking statements to reflect events or circumstances
after the date of this announcement or to reflect the occurrence of unanticipated
events, save as required by applicable law.

This announcement is for informational purposes only and does not constitute: (i)
an offer to sell, or a solicitation of offers to purchase or subscribe for,
securities in the United States or any other jurisdiction; or (ii) investment advice
in any jurisdiction relating to the securities discussed herein.

This announcement is not an ‘‘offer to the public’’ as defined in Section 95(1)(h)
of the Companies Act, 2008, as amended nor does it call attention to or advertise
an offer to the public.




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