Gold Fields has mandated Citigroup, RBC Capital Markets and Scotia Capital (US) as joint global co-ordinators and active bookrunners to arrange a series of fixed-income investor calls starting today, which may lead to a potential bond offering.
A dollar-denominated senior unsecured benchmark 10-year bond offering was expected to follow, subject to market conditions, Gold Fields said in a statement on Monday.
The notes will be issued by Windfall Mining Group and will be guaranteed by Gold Fields.
The proceeds would be used for general corporate purposes, including to repay amounts outstanding under the $750m bridge facilities that were used to fund the acquisition of Osisko Mining, Gold Fields said.
Gold Fields completed the acquisition of Osisko Mining in October 2024. The deal, announced in August, enabled Gold Fields to consolidate 100% ownership of the Windfall Project and the surrounding exploration district in Québec, Canada.
Gold Fields paid C$1.93bn (R24.6bn) net of cash received as settlement for the transaction. The payment was made using cash on hand, undrawn debt facilities and liquidity facilities totalling $750m that were executed in October.
The Windfall Project, which is expected to produce about 300,000oz of gold a year, is known for its low all-in sustaining costs. The acquisition aligned with Gold Fields’ strategy to enhance the quality of its portfolio through investment in high-quality, long-life assets.
Gold Fields’ share price fell 0.87% on Monday to R405.42 after jumping 7.26% on Friday.
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