Bank of China contributes to a $175 million revolving credit facility to Harmony Gold Mining Company Limited (Linked to Project ID#96814)

On July 28, 2017, Harmony Gold Mining Company Limited borrowed a $350 million loan from an international syndicate of lenders, including Bank of China (BOC). The loan included two separate facilities. The first (captured in Project ID#96814) was a $175 million syndicated loan facility with an interest rate of contemporary 3-month LIBOR plus a 3.15% margin rate. The second (captured in Project ID#96815) was a $175 million revolving credit facility with an interest rate of contemporary 3-month LIBOR plus a 3% margin rate. The facility agreement allowed the lenders to transfer their facility commitments. The intended purpose of both loans is unknown, as were their maturity dates. However, both were fully settled in October 2019 by a separate $400 million loan facility. Nedbank Limited, Absa Bank Limited, JP Morgan Chase Bank N.A, Caterpillar Financial Services Corporation, HSBC Bank Plc, State Bank of India, The Bank of China (BOC) and Citibank N.A. were lenders. Nedbank Limited and Absa Bank Limited acted as arrangers. Nedbank Limited acted as facility agent.

Additional details

1. For the time being, AidData is assuming equal contribution of all lenders. The financing organization's contribution ($2187500) was derived from dividing the full loan amount ($175 million) by the total amount of lenders (8). 2. The loan's interest rate (4.308%) was derived from the sum of contemporary 3-month LIBOR (1.308%) and the margin rate (3%).

Number of official sources

1

Number of total sources

3