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Sibanye Gold Cuts Bond Conversion Price to USD 1.2533

By Markets Desk · 2026-09-18 · 1 min read
A polished gold ingot resting on a dark wooden desk
Illustration: Tradingbird

Sibanye Gold Limited reduced the conversion price for its USD 500 million convertible bonds. The new rate is USD 1.2533, down from USD 1.3054.

Sibanye Gold Limited lowered the conversion price for its USD 500 million convertible bonds. The new conversion price is USD 1.2533. The previous price was USD 1.3054. This adjustment took effect on September 16, 2026.

The company issued this notice to bondholders holding the 4.250 percent guaranteed unsecured convertible bonds due 2028. The bonds carry the ISIN XS2725834043. This move follows a dividend payment of R2.0100 per ordinary share. Shareholders of record on September 18, 2026, received this dividend.

Dividend Triggers Price Adjustment

The price change is mandated by Condition 6.2(c) of the bond terms. This clause requires an adjustment when a dividend is paid. The dividend amount of R2.0100 per share was the direct cause. The conversion price decreased by USD 0.0521.

The bonds are listed on the Regulated Unofficial Market in Frankfurt. They were issued on November 28, 2023. The company’s registered address is in Weltevreden Park, South Africa. The announcement was distributed via EQS News.

Bond Terms and Structure

These instruments are unsecured and guaranteed. They are convertible into ordinary shares of Sibanye Gold Limited. The total face value of the issue is USD 500 million. The maturity date for this series is 2028.

The conversion price determines the number of shares issued per bond. A lower price means more shares are issued upon conversion. This mechanism protects bondholders from dilution caused by dividends. The adjustment ensures the economic value of the bond remains consistent.

Corporate Governance and Leadership

Vincent Maphai serves as the Chairman of the board. Richard Stewart is the Chief Executive Officer. Charl Keyter holds the position of Chief Financial Officer. These directors oversee the company’s capital structure and financial obligations.

The company identified this disclosure as inside information. It was transmitted under Article 17 of the EU Market Abuse Regulation. The issuer is solely responsible for the content. This ensures compliance with regulatory standards for public disclosures.

Based on reporting by TradingView, compiled by the Tradingbird desk.

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