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Sasol - five-year revolving credit facility
Sasol, the South African chemicals and energy company, has increased its existing USD1.5 billion Revolving Credit Facility (“the Facility”)to USD3.9 billion and extended the maturity to five years, with the inclusion of two further extension options of one year each (“the Transaction”).
Sasol launched the Transaction with a targeted facility size of USD3.0 billion, which was subsequently increased to USD3.9 billion, given the notable oversubscription.
Sasol mandated Citi and Mizuho Bank, Ltd. as Joint Global Co-ordinators for the Transaction, which launched in early November 2017 to a targeted group of banks. The Joint Global Co-ordinators each pre-committed to the Transaction, and invited banks to commit at one of three ticket levels, with the following titles: Bookrunner and Mandated Lead Arranger (BMLA), Mandated Lead Arranger (MLA) and Lead Arranger. The Company also accommodated a limited number of smaller tickets with the Arranger title.
Syndication closed oversubscribed with 17 banks committing, allowing Sasol to increase the Facility and offer scale back to the Joint Global Co- ordinators, BMLAs and the MLAs.
Along with the Joint Global Co-ordinators, there were eight other BMLAs: ABN AMRO Bank N.V., Bank of America Merrill Lynch, BNP Paribas S.A. South Africa Branch, Intesa SanPaolo Bank Luxembourg S.A., J.P. Morgan Securities plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation Europe Ltd. and UniCredit Bank Austria.
Barclays Bank PLC, Deutsche Bank and HSBC joined as MLAs, Export Development Canada and Standard Chartered Bank joined as Lead Arrangers and Wells Fargo Bank N.A., London Branch and Societe Generale joined as Arrangers.
EY acted as Independent Financial Advisor to Sasol in respect of the transaction.
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Sasol - two capital markets days
Sasol will be hosting two Capital Markets Days on, respectively, 23 November 2017 in Johannesburg and 30 November 2017 in New York. During these engagements, investors will be provided with information on Sasol’s long term strategy and capital allocation framework. Both engagement sessions will also be accessible via webcast. The webcast details and presentation can be found on Sasol’s website at www.sasol.com
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Sasol - re-designation date of Sasol BEE ordinary
Sasol shareholders are referred to the circular to Sasol shareholders dated Wednesday, 18 October 2017 (“the Circular”), as well as the announcement of the results of the general meeting of Sasol shareholders held on Friday, 17 November 2017. Pursuant to the approval by Sasol shareholders of the Sasol Khanyisa transaction, Sasol shareholders are advised that:
1.The automatic re-designation of the SOLBE1 Shares as SOL Shares, in terms of their existing rights, was originally envisaged to occur on 8 September 2018;
2.Sasol’s Memorandum of Incorporation grants Sasol the right to determine an earlier date for re-designation; and
3.As advised in the Circular, for practical reasons, the Sasol Board on Friday, 17 November 2017, has confirmed that an earlier date for such re-designation is required; Sasol has determined this date to be Thursday, 5 April 2018.
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Sasol - AGM result
Sasol shareholders are advised that the results of the business conducted at the annual general meeting held on Friday, 17 November 2017 at the The Hilton, 138 Rivonia Road, Sandton, Johannesburg, South Africa are as follows:
- As at Friday, 10 November 2017, being the Annual General Meeting Record Date, the total number of Sasol’s shares in issue was 681 283 578 of which 672 473 692 were eligible to vote (“Total Votable Shares”).
- The total number of shares in the share capital of Sasol eligible to vote by being present in person or by submitting proxies was 549 735 987, being 81% of Sasol’s issued share capital and 82% of the Total Votable Shares.
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Sasol - results of the combined general meeting
Results of the combined General Meeting of Sasol Ordinary Shareholders, Sasol Preferred Ordinary Shareholders and Sasol BEE Ordinary Shareholders, held On 17 November 2017
Sasol shareholders are advised that the results of the combined general meeting of Sasol Ordinary Shareholders, Sasol Preferred Ordinary Shareholders and Sasol BEE Ordinary Shareholders held on Friday, 17 November 2017 at The Hilton, 138 Rivonia Road, Sandton, Johannesburg, South Africa are as follows:
- As at Friday, 10 November 2017, being the General Meeting Record Date, the total number of Sasol’s shares in issue was 681 283 578, of which 672 473 692 were eligible to vote (“Total Votable Shares”).
- The total number of shares in the share capital of Sasol eligible to vote by being present in person or by submitting proxies was 545 455 609, being 80% of Sasol’s issued share capital and 81% of the Total Votable Shares.
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