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Gold Fields completes US$250M notes offering

Gold Fields Ltd. completed its previously announced buyback of US$250 million of its outstanding 4.875% notes due 2020 at 102% of par value.

The company said May 27 that the remaining US$600 million of notes due October 2020 is expected to be repaid from a combination of available cash and bank debt facilities.

Gold Fields is looking to extend the maturity of its debt profile this year. It expects to complete the refinancing of a syndicated bank debt in the third quarter.

The company aims to cut its net debt by US$100 million to US$150 million this year.