De Beers Gets Refinanced



De Beers announced Tuesday that it has concluded the refinancing of its existing banking facilities. The refinancing comprised a renewal and extension of its worldwide existing facilities and a $1 billion rights issue.

The renewal and extension of De Beers’ existing banking facilities were concluded at the beginning of the year and go into effect on March 23rd. De Beers reported that all of its banking partners participated in the facility renewal.

The $1 billion rights issue was subscribed to in full by E Oppenheimer & Son, Anglo American plc, and the Government of Botswana in their pro rata equity proportions. The funds have been received by the company and have been used to repay debt.