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Sasol secures new $2.9bn facility

Sasol's head office

Photo by Creamer Media

18th April 2023

By: Marleny Arnoldi

Deputy Editor Online

     

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Chemicals and energy company Sasol has refinanced its existing banking facilities that were due to mature in 2024, by securing a new $2.9-billion banking facility.

The new facility comprises a $1.9-billion revolving credit facility and a $982-million term loan facility, both with a five-year maturity and with two extension options of one year each.

The transaction was launched in February with a target facility size of $2.5-billion, which was subsequently increased to $2.9-billion owing to a notable oversubscription by a group of 14 banks.

Sasol mandated Ireland-based Bank of America Europe Designated Activity Company and Japanese banks Mizuho Bank and MUFG as joint global coordinators for the transaction.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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