By Reshmi Basu
New York, June 22 - Sasol Ltd. sold €300 million of five-year bonds (Baa1/BBB) at 99.823 with a 3 3/8% coupon to yield 3.414%, or mid-swaps plus 77 basis points, according to a market source.
The deal priced tighter than price guidance, which was set at mid-swaps plus 85 bps.
Books closed at more than €1.5 billion.
ABN Amro and Dresdner Kleinwort Wasserstein ran the Regulation S transaction.
The prospective issuer is a Johannesburg, South Africa-based petrochemical company.
| Issuer: | Sasol Financing International plc
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| Guarantor: | Sasol Ltd.
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| Amount: | €300 million
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| Maturity: | June 29, 2010
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| Coupon: | 3 3/8%
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| Issue price: | 99.823
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| Yield: | 3.414%
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| Spread: | Mid-swaps plus 77 basis points
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| Pricing date: | June 22
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| Settlement date: | June 29
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| Bookrunners: | ABN Amro, Dresdner Kleinwort Wasserstein
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| Ratings: | Moody's: Baa1
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| Standard & Poor's: BBB
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