New Issue: AngloGold $900 million convertible yields 2.375%, up 60%

Nashville, Feb. 20 - AngloGold Holdings plc, a unit of AngloGold Ltd., sold $900 million of five-year convertible notes at par to yield 2.375% with a 60% initial conversion premium via joint lead managers Deutsche Bank Securities and Citigroup Global Markets Inc.

The Rule 144A/Regulation S deal priced at the middle of yield talk for a 2.125% to 2.625% coupon and at the cheap end of premium guidance of 60% to 65%.

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

Terms of the deal are:

Issuer:	AngloGold Holdings plc
Guarantor:	AngloGold Ltd.
Issue:	Convertible unsecured unsubordinated notes
Joint lead managers:	Deutsche Bank Securities and Citigroup Global Markets Inc.
Amount:	$900 million
Greenshoe:	$100 million
Maturity:	2009
Dividend:	2.375%
Price:	Par, $10,000
Yield:	2.375%
Conversion premium:	60%
Conversion price:	$65.00
Conversion ratio:	153.8462
Call:	Non-callable for 3 years, then with 130% trigger
Price talk:	2.125-2.625%, up 60-65%
Pricing date:	Feb. 19
Settlement date:	Feb. 27
Distribution:	Rule 144A, Regulation S

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