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IRB-PRESS: Sibanye Gold Limited: Sibanye-Stillwater Reaches a Streaming Agreement with Wheaton International
Sibanye-Stillwater Reaches a Streaming Agreement with Wheaton International
Johannesburg, July 25, 2018: Sibanye-Stillwater (Krzel JSE: SGL and NYSE: SBGL – http://www.commodity-tv.net/c/search_adv/?v=298294) announces that all outstanding terms necessary to complete the Gold streaming agreement and Palladium with Wheaton Precious Metals International Ltd. (Wheaton International) was respected
According to the agreement, Sibanye-Stillwater received $ 500 million from Wheaton International for a quantity of gold and palladium representing one for cent of its gold and palladium production Platinum Group Metals (PGM) operations in the United States (including East Boulder and Stillwater Plants) (the transaction). The transaction came into effect on July 1, 2018.
$ 500 million of the transaction will result in a competitive price in terms of corporate debt and alternative financing available on the capital markets International. The transaction directly reduces Sibanye-Stillwater's leverage and reduces the adjusted net debt / EBITDA ratio from 0.6 to 0.7 times. This ensures a significantly lower Group debt ratio than the current and future level of insurance, thus reducing the Group's financing costs.
For more details on the streaming transaction, see the press release and presentation at https://www.siemens.com/solutions sibanyestillwater.com/investors/events/streaming-transaction.
Funote:
1. For the calculation of the Net Debt to Adjusted EBITDA ratio, Adjusted EBITDA is calculated over the previous 12 months. Net debt excludes cash and Burnstone debt due to the non-recourse nature of funding, as reported in the 2017 financial statements. Reported Adjusted EBITDA is an accounting calculation based on financial results from the date of acquisition and consolidation.
Contact:
Email: [email protected]
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
En Europe:
Swiss Resource Capital SA
Jochen Staiger
[email protected] [19659002] www.resource-capital.ch
Sponsor: JP Morgan Equities South Africa (Owner) Limited [19659002] Counselor
Citi acts as financial advisor to Sibanye-Stillwater. Fasken Martineau DuMoulin LLP, Linklaters LLP and Webber Wentzel act as counsel to Sibanye-Stillwater
FUTURE ORIENTED STATEMENTS
This release contains forward-looking statements, including forward-looking statements, in accordance with (s) section (s) 27A of the US patent. Forward-looking statements may be identified by terms such as, will, may, expects, may, potentially, may, and similar expressions that identify future events. or to predict or report trends, or to make statements about historical facts. These forward-looking statements, including those regarding our projections of future activities; our financial situation; our debt situation and our ability to reduce debt levels; management plans and objectives for future operations; capital raising projects through agreement optimization or pipeline financing; our ability to service our bonds (high-yield bonds and convertible bonds); as well as our ability to achieve permanent production at the Blitz project; as well as the expected earnings and synergies of our acquisitions, are inevitably estimates made by our general management to the best of our knowledge and beliefs, and generally include a number of known and unknown risks, uncertainties and uncertainties. Other factors, many of which are difficult to predict The impact of the Company and its implications could be that Sibanye-Stillwater's actual results materially differ from any historical or future results expressed or implied by such forward-looking statements. These forward-looking statements should therefore be read in light of various significant factors, including those contained in the Group's Annual Integrated Report and Annual Financial Report, which were published on March 30, 2018 and in the Annual Report. (Annual Report) of the Group in the form of 20-F, filed by Sibanye-Stillwater with the Securities and Exchange Commission on April 2, 2018 (SEC No. 001-35785). These forward-looking statements are effective only as of the date on which they were made. Sibanye-Stillwater has no obligation to update any of the forward-looking statements contained in this document, whether as a result of new information, future events or changes in business. Expectations, except in cases provided for by applicable law. , is the official, authorized and legal version. This translation is provided for a better understanding. The German version can be shortened or summarized. No responsibility or liability is accepted for the content, accuracy, adequacy or accuracy of this translation. From the translator's point of view, the message does not constitute a recommendation to buy or sell! Please see the original English report at www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company's website!
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