Bank of China contributes to ZAR 2 billion syndicated revolving credit facility with Sibanye Gold Limited for working capital purposes (Linked to Record#108411, 108416)

Project narrative

On December 10, 2013, Sibanye Gold Limited — a special purpose vehicle that operates mines and processing facilities in South Africa and the United States focused on platinum group metals (PGMs) like platinum, palladium, and rhodium, as well as gold (including the the Beatrix, Driefontein, Kloof, and Cooke 4 mines in South Africa's Witwatersrand Basin, the Stillwater Mine and the East Boulder Mine in Montana, and the Columbus Metallurgical Complex in Columbus Montana) — signed a ZAR 4.5 billion syndicated revolving credit facility agreement with Nedbank Limited, Absa Bank Limited, The Standard Bank of South Africa Limited (all acting through their respective Corporate and Investment Banking divisions), FirstRand Bank Limited (acting through its Rand Merchant Bank division) and the Johannesburg Branch of Bank of China for working capital purposes. The RCF consisted of two facilities: a ZAR 2 billion facility that carried a 3-year maturity, an interest rate of JIBAR plus a 2.75% margin, and a 2% penalty (default) interest rate (Facility A); and a ZAR 2.5 billion facility that carried a 3-year maturity, an interest rate of JIBAR plus a 2.85% margin, and a 2% penalty (default) interest rate (Facility B). Bank of China contributed ZAR 430 million to Facility A and ZAR 750 million to Facility B. Facility A is captured via Record ID#108415; Facility B is captured in Record ID#108416. The RCF’s guarantor was Opiconsivia Trading 305 (RF) Proprietary Limited. The 2013 RCF was retired and refinanced with a ZAR 6 billion RCF on November 15, 2016 (as captured via Record ID#108411).