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Sasol Limited - Sasol successfully launches R2 billion corporate bond
Sasol Limited
(Incorporated in the Republic of South Africa)
Share codes: JSE - SOL (Isin: ZAE000006896)
NYSE - SSL
Sasol successfully launches R2 billion corporate bond
Absa Corporate and Merchant Bank (a division of Absa Bank Limited) and Nedbank
Corporate (a division of Nedbank Limited) have jointly placed a R2 billion
corporate bond on behalf of Sasol Limited. Sasol will utilise the bond to fund
part of its ongoing funding requirements and to improve its debt structures.
Bid volumes in excess of the authorised R2 billion were received resulting in an
oversubscription of 1,7 times.
"The way in which the market has reacted to this issue reflects the credit
status of Sasol as well as the strong support the Group has in domestic capital
markets. The issue of this bond is an integral part of our overall funding
strategy. We compliment ABSA and Nedbank for their role in this successful
issue," says Trevor Munday, Sasol Executive Director.
Details of the bond issue are:
- Settlement Date: 1 September 2003
- Principal Amount: ZAR2 billion
- Maturity Date: 1 September 2007
- Coupon: 10.50%
- Coupon Dates: 1 March and 1 September
- Books close Date: 18 February and 20 August
- Re-offer yield: 10.69% all-in
- Re-offer price: 99.39447
- Listing: Bond Exchange of South Africa
- Bond Code: SFL2
- Issue Spread: 105 bps over R194
"Absa and Nedbank were able to place the Sasol bond at a competitive spread with
a diversified pool of investors, and in a relatively short period of time" says
Rupert Pardoe, Absa Deputy Chief Executive.
"Investors" positive response to the placement of Sasol"s bond bears testament
to Nedbank and Absa"s debt origination capabilities," says Nedbank Corporate"s
Chief Executive Derek Muller.
The Sasol Group"s financial results for the year ended 30 June 2003 will be
issued on SENS and posted on Sasol"s website (www.sasol.com) prior to the
opening of business on the JSE Securities Exchange on Monday, 8 September 2003.
The results presentation will be webcast live on 8 September 2003 at 10:00 and
can be accessed through the Investor Relations section of the Sasol website.
Legal advisors to the Issuer and Guarantor: Edward Nathan & Friedland
(Proprietary) Limited.
This announcement is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration. Any public offering of securities to be made
in the United States will be made by means of a prospectus that may be obtained
from the issuer or the selling security holder and that will contain detailed
information about the company and management, as well as financial statements.
Ends
For more information, please contact:
Johann van Rheede
Sasol Group Communications : Media Manager
Tel : (011) 441-3295
Cell : 082 329 0186
E-mail : johann.vanrheede@sasol.com
Liezl Squier
Account Executive : Absa Corporate and Merchant Bank
Group Communication and Public Affairs
Tel : (011) 350-4291
Cell : 083 407 6898
E-mail : liezls@absa.co.za
Gayle Rodrigues
Nedbank Media Relations and Publicity
Tel : (011) 294- 0372
Cell : 083 307 6484
E-mail : gayler@nedcor.com
Date: 27/08/2003 03:33:21 PM
Produced by the JSE SENS Department
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