AngloGold $900 million convertible talked at 2.125-2.625% yield, up 60-65%

Nashville, Feb. 19 - AngloGold Holdings plc, a unit of AngloGold Ltd., launched $900 million of five-year convertible notes in an overnight transaction with price talk for a yield of 2.125% to 2.625% with a 60% to 65% initial conversion premium.

Deutsche Bank Securities and Citigroup Global Markets Inc. are joint lead managers of the Rule 144A/Regulation S deal, which was pricing intraday Thursday.

The unsecured unsubordinated notes will be non-callable for three years and then with a 130% hurdle.

Par for the bonds will be $10,000.

There is a $100 million greenshoe available.

The South African gold concern said proceeds would be used to reduce debt, to fund costs related to the proposed merger with Ashanti Goldfields Co. Ltd. and for general corporate purposes.

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