Gold Fields prints as SA goes to the polls

By Francesca Young
09 May 2019

Gold Fields, a South Africa-headquartered mining company, sold its $1bn dual tranche bond on Wednesday at a spread that looked historically tight to comparable issuer, AngloGold. It attracted $3bn of orders despite national elections on the same day.

The company sold $500m of 5.125% 2024s at 285.4bp over US Treasuries and $500m of 6.125% 2029s at 366.5bp over.

Initial price guidance for the 2024s was put out at 5.50% area on Wednesday morning in London and at 6.5% area for the 2029s.  The guidance was later ...

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