Commentary & Deal Flow

AngloGold Ashanti Holdings plc (ANGSJ) (outstanding sr unsec ratings Baa3/BB+/BBB-) filed to offer US$tbd SEC registered sr notes due 2030. Gtd by AngloGold Ashanti Ltd. Barc/BMO/BNP/BofA/CIBC/Citi/DB/JPM (B&D)/RBC/Scotia/SCB joint active books. Passive: ANZ. 3mos par call. 101 CoC (upon the occurrence of both (i) a change of control of AngloGold Ashanti Limited and (ii) a rating downgrade of the notes by each of Fitch, Moody’s and S&P). UOP: repay a portion of the outstanding borrowings under $1.4 billion multi-currency syndicated revolving credit facility. Co may from time to time reborrow amounts repaid under our $1.4 billion multi-currency RCF.