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Bank of China contributes to ZAR 2.5 billion syndicated revolving credit facility with Sibanye Gold Limited for working capital purposes (Linked to Record#108411,108415)
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Sibanye-Stillwater Ltd. (formerly Sibanye Gold Limited) |
| Country | South Africa |
| Start Date | Dec 10, 2013 |
| End Date | May 31, 2026 |
| Duration | 4,555 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108416 |
Grant Description
Bank of China contributions to ZAR 4.5 billion syndicated revolving credit facility with Sibanye Gold Limited for working capital purposes in South Africa 2013 On December 10, 2013, Sibanye Gold Limited — a special purpose vehicle that operates mines and processing facilities in South Africa and the United States focused on platinum group metals (PGMs) like platinum, palladium, and rhodium, as well as gold (including the the Beatrix, Driefontein, Kloof, and Cooke 4 mines in South Africa's Witwatersrand Basin, the Stillwater Mine and the East Boulder Mine in Montana, and the Columbus Metallurgical Complex in Columbus Montana) — signed a ZAR 4.5 billion syndicated revolving credit facility agreement with Nedbank Limited, Absa Bank Limited, The Standard Bank of South Africa Limited (all acting through their respective Corporate and Investment Banking divisions), FirstRand Bank Limited (acting through its Rand Merchant Bank division) and the Johannesburg Branch of Bank of China for working capital purposes.
Bank of China contributed ZAR 430 million to Facility A and ZAR 750 million to Facility B. Facility A is captured via Record ID#108415; Facility B is captured in Record ID#108416. The RCF’s guarantor was Opiconsivia Trading 305 (RF) Proprietary Limited.
The 2013 RCF was retired and refinanced with a ZAR 6 billion RCF on November 15, 2016 (ask captured via Record ID#108411).
Staff Comments
- Sibanye Gold Limited, now known as Sibanye-Stillwater, is a multinational mining and metals processing company. It operates mines and processing facilities in South Africa and the United States, primarily focused on platinum group metals (PGMs) like platinum, palladium, and rhodium, as well as gold. Stillwater Mining Company was acquired by Sibanye Gold Limited for $2.2 billion in February 2017.
- The revolving credit facility agreement can be accessed in its entirety via https://www.sec.gov/Archives/edgar/data/1561694/000119312514166905/d688942dex49.htm AND https://www.dropbox.com/scl/fi/gccxgmcyc3ltk6vck35ti/sbgl_Ex4_35.pdf?rlkey=ppw50eop4zq2horrblj5pn5f5&st=l52ycp2p&dl=03. For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- AMENDED AND RESTATED TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- ANNUAL FINANCIAL REPORT 2016
- FIFTH ADDENDUM TO ZAR4,500,000,000 TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- FIRST ADDENDUM TO THE TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- Form 20-F/A (Amendment No. 1)
- FOURTH ADDENDUM TO THE TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- REVOLVING FACILITY AGREEMENT ZAR6,000,000,000 for SIBANYE GOLD LIMITED
- SECOND ADDENDUM TO THE TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- Sibanye Stillwater Limited
- TERM AND REVOLVING CREDIT FACILITIES AGREEMENT
- THIRD ADDENDUM TO THE TERM AND REVOLVING CREDIT FACILITIES AGREEMENT Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Sibanye-Stillwater Ltd. (formerly Sibanye Gold Limited)
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