Sibanye-Stillwater Receives $500 Million From Agreement With Wheaton
25 Juillet 2018 - 4:21PM
Dow Jones News
By Dimitrios Kontos
Sibanye-Stillwater Ltd. (SBGL) said Wednesday that it has
received $500 million from Wheaton Precious Metals Corp. (WPM.T) as
all outstanding conditions for the completion of their gold and
palladium stream agreement have been met.
The South Africa-based miner said the transaction immediately
reduces its net debt to adjusted Ebitda ratio by between 0.6 times
and 0.7 times, with this facilitating a reduction in financing
costs.
Under the terms of the agreement, Sibanye-Stillwater will
provide a subsidiary of Wheaton with the gold production and a
percentage of the palladium production from its U.S.
operations.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
July 25, 2018 10:06 ET (14:06 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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