Gold Silver Reports → Gold Fields Ltd., a South Africa-based miner of the precious metal, offered to buy back $200 million of bonds for 17 percent less than their original value.
The Johannesburg-based company will pay a minimum of $830 for every $1,000 of the securities, it said in a statement Friday. The $1 billion bond, which pays 4.875 percent interest and is due October 2020, was traded at 81.13 cents on the dollar at 1:57 p.m. Friday in Johannesburg.
The company has benefited from a gold price that’s up 16 percent this year to $1,232.20 an ounce and weaker currencies in the countries it operates in such as South Africa and Australia. → Neal Bhai Reports