Harmony repays a further $100m on its bridge facility
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
JSE share code: HAR
(“Harmony” or “the company”)
HARMONY REDUCES DEBT AND STRENGTHENS BALANCE SHEET - US$100 MILLION REPAID ON
Johannesburg, Tuesday, 19 June 2018. Harmony Gold Mining Company Limited
(“Harmony” and/or “the Company”) is pleased to announce that it has repaid a
further US$100 million on the original US$200 million bridge loan raised for the
acquisition of Moab Khotsong.
Peter Steenkamp, chief executive officer said “Harmony believes in having a
robust and flexible balance sheet that supports its growth ambitions. We have
used the proceeds from the oversubscribed share placement announced on 6 June
2018 to repay US$100 million of the bridge facility. Production at Moab Khotsong
in the past three and a half months support our view that the mine is a quality
asset and it will strengthen Harmony’s cash flows further”.
The remaining balance outstanding of US$50 million on the bridge loan is expected
to be repaid from operating cash flows as well as the proceeds from the share
placement to African Rainbow Minerals Limited (which is subject to approval by
19 June 2018
For more details contact:
Investor Relations Manager
+27 (0)71 607 1498 (mobile)
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0)82 888 1242 (mobile)
J.P. Morgan Equities South Africa Proprietary Limited.
Date: 19/06/2018 11:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.