JOHANNESBURG, March 12, 2021 /PRNewswire/ — Sasol Limited (“Sasol”) herewith announces that its wholly owned subsidiary Sasol Financing USA LLC (the “Issuer”) has priced an offering of US$-denominated, SEC-registered notes (the “Notes”), including $650 million of senior notes due 2026 (the “2026 Notes”) and $850 million of senior notes due 2031 (the “2031 Notes”). The 2026 Notes will bear interest at a rate of 4,375% per annum. The 2031 Notes will bear interest at a rate of 5,50% per annum. The total orderbook amounted to approximately $4 600 million, which represents an oversubscription of more than 3 times.
“We are very pleased with the uptake and interest in our senior notes. This issue is an important step in sharpening our focus on balance sheet management under volatile conditions,” said Paul Victor, Chief Financial Officer, Sasol Limited. “It is testament to the high quality of our credit profile and a strong vote of confidence in Future Sasol.”
The Notes will be general unsecured obligations of the Issuer and will be fully and unconditionally guaranteed by Sasol Limited. The offering is expected to close on 18 March 2021, subject to customary closing conditions. The proceeds of the offering will be used for partial repayment of outstanding revolving credit facility (RCF) balances and is therefore leverage neutral.
BofA Securities acted as Global Coordinator. BofA Securities, Citigroup, Mizuho and MUFG acted as active Joint Book-Running Managers. ABN AMRO, BNP…
