Chicago, Feb. 1 – South Africa’s Transnet SOC Ltd. sold $1 billion of five-year notes with an 8¼% coupon at par (Ba3/BB-), according to a notice.
The notes will be listed on the London Stock Exchange.
J.P. Morgan Securities plc, Absa Bank Ltd. and Standard Bank of South Africa Ltd. are the bookrunners.
Transnet is a Johannesburg-based rail, port and pipeline company.
| Issuer: | Transnet SOC Ltd.
|
| Amount: | $1 billion
|
| Issue: | Notes
|
| Maturity: | Five years
|
| Bookrunners: | J.P. Morgan Securities plc, Absa and Standard Bank
|
| Trustee: | Bank of New York Mellon, London Branch as fiscal agent
|
| Counsel to issuer: | Freshfields Bruckhaus Deringer LLP and ENSafrica
|
| Counsel to underwriters: | Allen & Overy LLP and Bowman Gilfillan Inc.
|
| Coupon: | 8¼%
|
| Price: | Par
|
| Yield: | 8¼%
|
| Announcement date: | Feb. 1
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Fitch:
|
| Distribution: | Rule 144A and Regulation S
|
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