REG - South32 Limited - South32 Prices US$700M of Senior Notes

South32Announcement

08/04/2022 09:15

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RNS Number : 7892H  South32 Limited  08 April 2022

 South32 Limited

 (Incorporated in Australia under the Corporations Act 2001 (Cth))

 (ACN 093 732 597)

 ASX / LSE / JSE Share Code:  S32; ADR: SOUHY

 ISIN:  AU000000S320

 south32.net

8 April 2022

 

 

 

SOUTH32 PRICES US$700M OF SENIOR NOTES

South32 Limited (ASX / LSE / JSE: S32; ADR: SOUHY) (South32) today announced
the pricing of US$700M on Senior Unsecured Notes due 2032 (the "Notes") by its
wholly-owned subsidiary, South32 Treasury Limited, in an offering to persons
reasonably believed to be qualified institutional buyers pursuant to Rule 144A
under the United States Securities Act of 1933, as amended (the "Securities
Act"), and to certain persons outside the United States in offshore
transactions in reliance on Regulation S under the Securities Act. The
settlement of the offering of the Notes is expected to occur in New York on 14
April 2022, subject to customary closing conditions.

South32 intends to use the cash proceeds from the offering, together with cash
on hand, for the repayment in full of amounts drawn down under its acquisition
bridge facility to partially fund the acquisition of a 45% interest in Sierra
Gorda.

The Notes will pay interest on 14 April and 14 October each year, commencing
on 14 October 2022, at a rate of 4.35% per annum. The Notes will be guaranteed
by South32 and certain other wholly-owned subsidiaries of South32.

South32 Chief Financial Officer, Katie Tovich said: "We are pleased that our
strong financial position and disciplined approach to capital management has
been recognised by investors with the successful execution of our inaugural US
dollar bond issue.

"Completion will enable our repayment of the US$800M short-term acquisition
bridge facility, that was drawn in February to support our acquisition of a
45% interest in the Sierra Gorda copper mine."

Disclaimer

This announcement does not constitute an offer to sell, or the solicitation of
any offer to buy, the Notes or any other securities. Any offer of the Notes
will be made only by means of a private offering memorandum. The Notes are not
being registered under the Securities Act nor the securities laws of Australia
nor any other jurisdiction. The Notes may not be offered nor sold in the
United States without registration under the Securities Act or an applicable
exemption from such registration requirements.

This announcement includes "forward-looking statements" within the meaning of
the U.S. Securities Exchange Act of 1934, as amended. Forward-looking
statements inherently involve known and unknown risks and uncertainties.
South32 provides no assurance that the forward-looking statements contained
herein will prove accurate. No undue reliance should be placed on any
forward-looking statements.

About us

South32 is a globally diversified mining and metals company. Our purpose is to
make a difference by developing natural resources, improving people's lives
now and for generations to come. We are trusted by our owners and partners to
realise the potential of their resources. We produce commodities including
bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical
coal and manganese from our operations in Australia, Southern Africa and South
America. With a focus on growing our base metals exposure, we also have two
development options in North America and several partnerships with junior
explorers around the world.

 Investor Relations
 Alex Volante                                    Tom Gallop

T         +61 8 9324 9029
T         +61 8 9324 9030

M        +61 403 328 408
M        +61 439 353 948

E         Alex.Volante@south32.net
E         Tom.Gallop@south32.net
 Media Relations
 Jamie Macdonald                                 Miles Godfrey

T         +61 8 9324 9000
T         +61 8 9324 9000

M        +61 408 925 140
M        +61 415 325 906

E         Jamie.Macdonald@south32.net
E         Miles.Godfrey@south32.net

Further information on South32 can be found at www.south32.net
(http://www.south32.net) .

Approved for release to the market by Graham Kerr, Chief Executive Officer

JSE Sponsor: The Standard Bank of South Africa Limited

8 April 2022

 

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