Loan & DebtJul 28, 2026, 08:17 AM
Harmony Secures $500M USD, A$500M, R7B in New Loan Facilities
AI Summary
Harmony Gold Mining Co Ltd has successfully concluded new syndicated, multi-currency loan facilities totaling $500 million USD, A$500 million, and R7 billion. These facilities will refinance existing debt, fund the MAC Copper acquisition bridge facility, and support general corporate purposes. The transaction introduces Australian dollar funding, reflecting the company's evolving asset portfolio, and includes sustainability-linked loans with potential margin reductions based on ESG targets. The financing received strong support from the banking market, significantly strengthening Harmony's liquidity and optimizing its capital structure.
Key Highlights
- Harmony secured new syndicated loan facilities totaling $500M USD, A$500M, and R7B.
- The facilities will refinance existing US$/Rand facilities and the MAC Copper acquisition bridge facility.
- New Australian dollar funding aligns with the MAC Copper acquisition and Eva Copper Project development.
- The financing attracted strong support, with approximately 93% lender participation and ~3x oversubscription.
- Includes sustainability-linked loans (SLLs) with potential margin adjustments based on ESG KPIs.
- SLLs have a 3-year term with two one-year extension options; AUD term loan is 6.5 years.
- The transaction reduces funding costs, strengthens liquidity, and optimizes the capital structure.
Price Impact
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