Shearman & Sterling has acted as international counsel to AngloGold Ashanti Limited on its inaugural $1 billion investment grade bond offering. The firm also advised on the refinancing of AngloGold’s revolving credit facility.

The offering, which was heavily oversubscribed, included $700 million 10 year notes and $300 million 30 year notes. This was the first time a South African company had issued 30 year corporate bonds.

Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold producer in the world and the largest in Africa.

The Shearman & Sterling team in the firm’s London and New York offices was led by capital markets partner Richard Price and included counsel Robert Ferguson and associates Paul Beck, Trevor Ingram and Mike Kung. Finance partner Kenneth MacRitchie and associate Alex Childs advised on the refinancing of AngloGold’s revolving credit facility. Tax advice was provided by associate Thomas Day.