Sasol to offer $750m of guaranteed convertible bonds
Petrochemicals giant Sasol will launch an offering of $750-million, or R13.6-billion, guaranteed senior unsecured convertible bonds on or around November 8, through an indirect wholly-owned subsidiary Sasol Financing.
The net proceeds of the bonds, which are due in 2027, will be used for general corporate purposes and the refinancing of Sasol’s debt.
The bonds are expected to pay a coupon of between 4% and 4.5% a year, payable semi-annually in arrear instalments on May 8 and November 8 of each year.
The bonds will be convertible into new or existing ordinary shares of Sasol, cash, or a combination thereof, and will be offered by way of an accelerated bookbuild to qualified investors only.
The initial conversion price will be set within a premium range of 30% to 35% above the volume-weighted average price of the ordinary shares listed on the main board of the JSE on November 1 and at the time of pricing.
Sasol will submit the convertible bonds for trading on the open market segments of the Frankfurt Stock Exchange within 30 days from the closing date.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation