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BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of borrowing costs [Abstract]  
Disclosure of Detailed Information about Borrowings
US Dollars
Figures in millions202020192018
Non-current
Unsecured
Debt carried at amortised cost
Rated bonds - issued July 2012764 762 761 
Semi-annual coupons are paid at 5.125% per annum. The bonds were issued on 30 July 2012, are repayable on 1 August 2022 and are US dollar-based.
Rated bonds - issued April 2010295 1,003 1,002 
Semi-annual coupons are paid at 5.375% per annum on $700m 10-year bonds and at 6.5% per annum on $300m 30-year bonds. The $700m were repaid on 15 April 2020 and the $300m bonds are repayable in April 2040. The bonds are US dollar-based.
Rated bonds - issued October 2020692 — — 
Semi-annual coupons are paid at 3.75% per annum. The bonds were issued on 1 October 2020, are repayable on 1 October 2030 and are US dollar-based.
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF)
— 15 — 
The Facility consists of a US dollar based facility with interest charged at a margin of 1.45% above LIBOR and an Australian dollar based facility capped at $500m with a margin of 1.45% above BBSY. The applicable margin is subject to a ratings grid. The facility was issued on 23 October 2018 and is available until 23 October 2023.
Syndicated loan facility (R1.4bn)
— 28 
Quarterly interest paid at JIBAR plus 1.65% per annum. The facility was issued on 7 July 2015 and was cancelled on 19 February 2020.The loan is SA rand-based.
Syndicated loan facility (R1bn)
72 35 
Quarterly interest paid at JIBAR plus 1.3% per annum. The facility was issued on 3 November 2017. During 2020 the facility was fully repaid and voluntarily cancelled on 11 November 2020. The loan was SA rand-based.
Siguiri revolving credit facilities ($65m)
67 67 — 
Interest paid at 8.5% above LIBOR. The facility was issued on 23 August 2016, and is available until 3 May 2022 and is US dollar-based.
Geita revolving credit facility ($150m)
113 114 60 
Multi-currency RCF consisting of Tanzanian shilling component which is capped at the equivalent of US$45m. This component bears interest at 12.5%. The remaining USD component of the facility bears interest at LIBOR plus 6.7% The facility matures on 22 June 2021.
Revolving credit facilities ($100m)
103 
During 2019 the loans were refinanced and included in the Geita and Siguiri revolving credit facilities.
Secured
Finance leases (1)
— — 57
US Dollars
Figures in millions202020192018
Other— — 4 
Total borrowings (note 35)
1,931 2,033 2,050 
Current portion of borrowings (note 36)
(142)(734)(139)
Total non-current borrowings (note 36)
1,789 1,299 1,911 
Amounts falling due
Within one year142 734 139 
Between one and two years812 110 734 
Between two and five years— 898 860 
After five years977 291 317 
(note 35)
1,931 2,033 2,050 

(1) The Finance leases have been included in the lease liabilities from 1 January 2019 (refer to note 16).
The table below provides the details of these contracts:
Figures in millionsCarrying value at 31 December 2020Repayable within one yearRepayable within one to two years
Siguiri revolving credit facility ($65m)
67265
Geita revolving credit facility ($105m) (1)
6767
Multi-currency syndicated revolving credit facility ($1.4bn multi-currency RCF) (2)
— 


(1) The Geita RCF consists of a Tanzanian shilling component which is capped at the equivalent of US$45m and this component bears interest at 12.5%. The remaining component bears interest at LIBOR plus 6.7%.

(2) The $1.4bn multi-currency is undrawn at 31 December 2020 and is available until 23 October 2023.
US Dollars
Figures in millions202020192018
Currency
The currencies in which the borrowings are denominated are as follows:
US dollar1,884 1,893 1,896 
Australian dollar— 21 48 
SA rand— 72 75 
Tanzanian shillings47 47 29 
Brazilian real— — 2 
(notes 35)
1,931 2,033 2,050 
Undrawn facilities
Undrawn borrowing facilities as at 31 December are as follows:
Syndicated revolving credit facility (R2.5bn) - SA rand (1)
179 174 
Syndicated revolving credit facility (R1.4bn) - SA rand (2)
100 70 
FirstRand Bank Limited (R500m; 2019 & 2018: R750m) - SA rand
34 54 52 
Revolving credit facility (R1bn) - SA rand(3)
— 35 
Multi currency syndicated revolving credit facility ($1.4bn) - US Dollar
1,400 1,379 1,400 
Revolving credit facility - $150m
41 40 57 
1,475 1,752 1,788 
Change in liabilities arising from financing activities:
Reconciliation of borrowings (excluding lease liabilities) (4):
A reconciliation of the total borrowings included in the statement of financial position is set out in the following table:
Opening balance 2,033 2,050 2,268 
Proceeds from borrowings 2,226 168 753 
Repayment of borrowings (2,310)(123)(967)
Finance costs paid on borrowings (114)(122)(117)
Deferred loan fees4 (7)— 
Other borrowing fees(15)
Interest charged to the income statement 115 127 127 
Reclassification of finance leases to lease liabilities— (60)— 
Translation (8)— (14)
Closing balance 1,931 2,033 2,050 
Reconciliation of finance costs paid:
A reconciliation of the finance cost paid included in the statement of cash flows is set out in the following table:
Finance costs paid on borrowings 114 122 117 
Capitalised finance cost(17)(6)— 
Commitment fees, utilisation fees and other borrowing costs 13 12 13 
Total finance costs paid 110 128 130 

(1) R2.5bn Syndicated loan facility issued December 2017 was cancelled on 23 October 2020.

(2) R1.4bn Syndicated loan facility issued July 2015 was cancelled on 19 February 2020.

(3) R1bn Syndicated loan facility issued November 2017 was cancelled on 11 November 2020.

(4) Refer note 16 for changes in lease liabilities arising from financing activities.