Shearman & Sterling acted as international counsel to AngloGold Ashanti Holdings Finance plc in its offering of $732.5 million guaranteed convertible bonds due 2014 and its parent company, AngloGold Ashanti Limited, as guarantor of the bonds.

Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold producer in the world. Proceeds from the offering are expected to be used to repay its existing debt facilities and for general corporate purposes.Commenting on the transaction, partner Richard Price said, “We’re delighted to have represented our longstanding client, AngloGold Ashanti, in this very successful capital raising, which was launched and priced in a single day despite difficult market conditions.”

Partner Mei Lian added, “We’re seeing an increasing flow of English law convertible deal offerings at the moment. With our experience in equity-linked transactions, we’ve been able to help clients with the successful execution of their offerings.”

The Shearman & Sterling team representing AngloGold Ashanti was led by partners Richard Price (London-Capital Markets) and Mei Lian (Finance) and included counsel Robert Ferguson (London-Capital Markets) and associates Paul Beck (London-Capital Markets), Rebecca Marques (London-Capital Markets), Yumi Paringaux (London-Mergers & Acquisitions), and Nicola Liddle-Peters (London-Finance). Tax advice was provided by partner Iain Scoon and associate Will Smith in London and partner Bernie Pistillo and associate Thomas Day in New York.

For more information, please contact Caroline Paul | London | T +44 20 7655 5068 |