By Marisa Wong
Los Angeles, March 12 – Sasol Financing USA LLC priced $1.5 billion of senior notes (Ba2/BB) in two tranches guaranteed by parent company Sasol Ltd., according to a press release.
The Securities and Exchange Commission-registered offering includes $650 million of 4 3/8% notes due 2026 and $850 million of 5˝% notes due 2031.
The total orderbook amounted to about $4.6 billion, which represents an oversubscription of more than three times, according to the release.
BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho International plc and MUFG are the joint active bookrunners. BofA Securities is also the global coordinator. Passive bookrunners were ABN Amro, BNP Paribas, Deutsche Bank, Intesa Sanpaolo, JPMorgan, SMBC and UniCredit.
The offering is expected to close on March 18.
Proceeds will be used to repay debt outstanding under the company’s $3.9 billion revolving credit facility.
Sasol is an integrated chemicals and energy company based in Sandton, South Africa.
| Issuer: | Sasol Financing USA LLC
|
| Guarantor: | Sasol Ltd.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho International plc and MUFG
|
| Passive bookrunners: | ABN Amro, BNP Paribas, Deutsche Bank, Intesa Sanpaolo, JPMorgan, SMBC and UniCredit
|
| Announcement date: | March 12
|
| Settlement date: | March 18
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB
|
| Distribution: | SEC registered
|
|
|
| 2026 notes
|
| Amount: | $650 million
|
| Maturity: | 2026
|
| Coupon: | 4 3/8%
|
|
|
| 2031 notes
|
| Amount: | $850 million
|
| Maturity: | 2031
|
| Coupon: | 5˝%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
