Commentary & Deal Flow

AngloGold Ashanti Limited (“AngloGold”), one of the world’s top five gold producers with a geographically diversified asset base across Africa, Australia and the Americas, rated Baa3 by Moody’s (negative outlook), BB+ by S&P (positive outlook) and BBB- by Fitch (stable outlook), has mandated BofA Securities, Barclays, BNP Paribas and J.P. Morgan (B&D) as Joint Lead Managers and Bookrunners and Australia and New Zealand Banking Group Limited, BMO Capital Markets, CIBC Capital Markets, Citigroup, Deutsche Bank, Goldman Sachs International, RBC Capital Markets, Scotiabank, Standard Chartered Bank and Westpac Banking Corporation as Joint Passive Bookrunners to arrange a global investor call at 11:00am UKT along with a series of fixed-income investor calls commencing on Monday, 18 October 2021.

An SEC-registered senior unsecured US$-denominated fixed rate benchmark bond offering with a 7-year maturity is expected to follow (the “Offering”), subject to market conditions.

In conjunction, AngloGold has announced an offer to purchase any and all of its outstanding US$750,000,000 5.125 per cent notes due 2022 (ISIN: US03512TAC53; CUSIP: 03512TAC5) (the “2022 Notes”) subject to the successful completion of an offering of debt securities in an aggregate principal amount of at least U.S.$750,000,000 (the “Financing Condition”) and certain other conditions described in the Offer to Purchase dated 18 October 2021 (the “Tender Offer”). BofA Securities, Barclays, BNP Paribas and J.P. Morgan are appointed as Joint Dealer Managers of the Tender Offer. In addition, subject to the satisfaction of the Financing Condition, it is expected that any 2022 Notes not purchased in the Tender Offer will be subsequently redeemed pursuant to their make-whole redemption feature. For further information, holders of the 2022 Notes should (subject to offer and distribution restrictions) refer to the Offer to Purchase.