Home | Business News | Browse by Publication | M | Mining Journal

Ashanti looks to stronger future ... (Mining Finance).

Publication: Mining Journal
Publication Date: 01-FEB-02
Format: Online - approximately 650 words
Delivery: Immediate Online Access
Full Article Title: Ashanti looks to stronger future ... (Mining Finance).(Brief Article)

Article Excerpt
Ghanaian-based Ashanti Goldfields Co. Ltd has reached an agreement in principle to restructure US$219 million of convertible debt, issued in 1999 to avert the company's gold-hedging crisis. Holders of the company's outstanding 5.5% exchangeable guaranteed notes due on March 15, 2003 (representing around 62% of the outstanding principal amount) have approved a proposal that will allow Ashanti to convert a portion of the notes to equity, and in effect reissue the remainder of the notes with an extended term but at a higher interest rate. The US$31 million balance of the original US$250 million issue of...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Mining Journal
Share prices and exchange rates. (Mining Finance).(Brief Article), February 01, 2002
... Production slips. (Mining Finance).(Brief Article)(Statistical Dat..., February 01, 2002
Gold producers rally. (Mining Finance).(Brief Article), February 01, 2002
Avmin writes down Chambishi. (Mining Finance).(Brief Article), February 01, 2002
Phelps Dodge Corp.(Brief Article), February 01, 2002

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.