Business
Successful Inaugural Notes Issuance
Successful Inaugural Notes Issuance.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \n \n \n Pan African Resources PLC\n (Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000)\n Share code on AIM: PAF\n Share code on JSE: PAN\n ISIN: GB0004300496\n ADR ticker code: PAFRY\n (“Pan African” or the “Company” or the “Group”)\n Pan African Resources Funding Company Limited\n Incorporated in the Republic of South Africa with limited liability\n Registration number: 2012/021237/06\n Alpha code: PARI\n (“PAR Funding Company” or the “Debt Issuer”)\n \n \n SUCCESSFUL INAUGURAL NOTES ISSUANCE AND LISTING OF NEW FINANCIAL INSTRUMENTS\n The Group and PAR Funding Company are pleased to announce that, following an oversubscribed bookbuild for Senior Second Ranking Secured Sustainability-linked Notes (“Notes”) on 8 December 2022, it will issue Notes to the value of R800 million (US$46.4 million at an exchange rate of US$/ZAR17.23).\n Investors are advised that the listing date of the Notes will be Tuesday, 13 December 2022.\n Cobus Loots, Chief Executive Officer of Pan African Resources, said: “We are delighted to be the first mining company to issue a sustainability-linked bond in the South African market. These instruments will further diversify our funding sources, with the proceeds of the issuance applied towards Pan African’s attractive growth project pipeline.”\n Final terms of the inaugural issue of the Notes under its ZAR5 billion domestic medium term note programme dated 6 December 2022 are set out below:\n \n \n \n Debt security code:\n \n \n PARS01\n \n \n PARS02\n \n \n \n \n ISIN:\n \n ZAG000192758\n ZAG000192766\n \n \n \n Type of debt security:\n \n Senior Second Ranking Secured\n Senior Second Ranking Secured\n \n \n \n Listing:\n \n Sustainability segment of the JSE\n Sustainability segment of the JSE\n \n \n \n Guarantors:\n \n Pan African Resources Plc;\n Evander Gold Mining Proprietary Limited;\n Barberton Mines Proprietary Limited;\n Evander Gold Mines Proprietary Limited; and\n Pan African Resources SA Holdings Proprietary Limited\n Pan African Resources Plc;\n Evander Gold Mining Proprietary Limited;\n Barberton Mines Proprietary Limited;\n Evander Gold Mines Proprietary Limited; and\n Pan African Resources SA Holdings Proprietary Limited\n \n \n \n Issue date:\n \n 13 December 2022\n 13 December 2022\n \n \n \n Issue pri...