Net debt fell by 32% to $2.1 billion as at June 30 of this year from $3.1 billion at the end of June last year, significantly lowering interest payments. On 1 August 2016, AngloGold Ashanti also completed the redemption of the remaining 8.5%, seven year bonds outstanding, at a total cost of the $503 million. This extinguished the company's most expensive debt and fulfilled a key strategic objective by further reducing its future interest payments.