Bloomberg – Billionaire investor John Paulson is getting in the way of AngloGold Ashanti’s plan to rid itself of debt.
Following the biggest one-day bond rally in seven months, sparked by the gold producer’s announcement on Wednesday that it would raise $2.1 billion (R23bn) in stock and spin off its non-South African assets, the hedge fund manager said he opposed the plan because it would destroy shareholder value. That did not stop yields on AngloGold’s April 2020 dollar bond from falling to the lowest since July 28 on Friday.
