Nedbank CIB has entrenched its position as Africa’s leading mining finance specialist by providing a funding solution for one of the world’s largest gold producers, Harmony Gold Mining Company Ltd.

Nedbank CIB acted as coordinator, bookrunner and lead arranger of US$350 million term and revolving credit facilities for Harmony.

Greg Webber, Head: Mining Finance, Nedbank CIB says: “We believe our funding solution for Harmony will be seen by the mining sectors in South Africa and rest of Africa as a firm signal that Nedbank CIB is  open for business, notwithstanding the current mining and economic situation in South Africa.

“Our role is in contrast to other financial institutions who are down-scaling their involvement in mining. The fact that we managed to garner eight international lenders for the Harmony facility shows our expertise and the transaction is another milestone in our long-term partnership with Harmony.”

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