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Sasol - pricing announcement
Following Sasol’s announcement on 11 September 2018 that its indirect wholly owned subsidiary, Sasol Financing USA LLC (“Issuer”), has filed an automatic shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (“SEC”), Sasol herewith announces the pricing of USD-denominated, SEC-registered notes to be issued by Sasol Financing USA LLC (the “Notes”), including USD1 500 million of senior notes due March 2024 (the “2024 Notes”) and USD750 million of senior notes due March 2028 (the “2028 Notes”). The 2024 Notes will bear interest at a rate of 5.875% per annum. The 2028 Notes will bear interest at a rate of 6.5% per annum.
Application will be made to list these notes on the New York Stock Exchange.
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Sasol - filing of shelf registration statement
Sasol herewith announces that its indirect wholly owned subsidiary, Sasol Financing USA LLC1, has filed an automatic shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (“SEC”). Under the shelf registration statement, which became effective upon filing, Sasol Financing USA LLC may offer and sell from time to time, in one or more public offerings, debt securities fully and unconditionally guaranteed by Sasol. Sasol further announces that it intends to offer debt securities in a public offering by filing a preliminary prospectus supplement and accompanying base prospectus with the SEC. The offering will be made pursuant to Sasol’s shelf registration statement filed with the SEC. The debt securities to be issued by Sasol Financing USA LLC, are unsecured and fully and unconditionally guaranteed by Sasol. The timing of pricing and terms of the offering are subject to market conditions and other factors.
This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities referred to herein have not been and will not be registered under the applicable securities laws of any jurisdiction outside of the United States of America.
For further information, please contact:
Alex Anderson, Head of Group Media Relations
Direct telephone: +27 (0) 10 344 6509; Mobile: +27 (0) 71 600 9605;
alex.anderson@sasol.com
Matebello Motloung, Senior Specialist: Media Relations
Direct telephone: +27 (0) 11 344 9256, Mobile: +27 (0) 82 773 9457
matebello.motloung@sasol.com
Moveshen Moodley, Chief Investor Relations Officer
Direct telephone: +27 (0) 10 344 8052
investor.relations@sasol.com
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Sasol - repurchase of shares
Shareholders are reminded that at a general meeting held on 17 November 2017, shareholders authorised Sasol, by way of a specific authority, to repurchase all or some of the Sasol preferred ordinary shares (“Preferred Ordinary Shares”) held by Inzalo Public FundCo at the 30 day volume weighted average price (“VWAP”) of a Sasol ordinary share (“SOL Share”) on the business day immediately prior to the date of repurchase of the Preferred Ordinary Shares.
Sasol repurchased 16 085 199 Preferred Ordinary Shares, being all the Preferred Ordinary Shares from Inzalo Public FundCo. The 30 day VWAP of a SOL Share on 6 September 2018 was R542,11. Sasol therefore paid R8 720 million for such Preferred Ordinary Shares. The 16 085 199 Preferred Ordinary Shares were cancelled upon repurchase in accordance with section 35(5) of the Companies Act 2008, as amended, and have the same status as authorised but unissued shares.
The proceeds of the repurchase of the Preferred Ordinary Shares were sufficient to discharge in full the preference share funding obligations of Inzalo Public FundCo. The guarantee which Sasol gave to the holders of Class C preference shares has therefore ceased to have any effect.
The financial effect of the repurchase on Sasol’s earnings per share, headline earnings per share, net asset value per share and net tangible asset value per share will be confined to the legal fees, the taxes levied by the South African Revenue Services and the JSE documentation fee which are considered negligible. The repurchase of the Preferred Ordinary Shares has been funded out of available cash and credit facilities.
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