Go Back Email this Link to a friend

Sasol Limited - Sasol successfully launches R2 billion corporate bond

Release Date: 27/08/2003 15:33:19      Code(s): SOL
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.  
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 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.