TRANSNET SOC LIMITED - BITRA - Transnet signs a 5-year credit facility as part of its 2022/2023 funding plan

BITRA - Transnet signs a 5-year credit facility as part of its 2022/2023 funding plan

Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
(“Transnet”, “the Company” or the “Issuer”)

TRANSNET SIGNS A 5 YEAR CREDIT FACILITY AS PART OF ITS 2022/23 FUNDING PLAN

Transnet is pleased to inform Noteholders that it has successfully re-entered the international
syndicated loan market by signing a five-year Senior Unsecured term loan facility of up to
USD 1.5 billion, led by Deutsche Bank AG. The facility will be used by Transnet to finance its
capital expansion programme, and refinance existing debt in line with Transnet’s 2022/23
funding plan.

The first drawdown amounting to USD 685mn is scheduled for July 2022. The facility is also
structured to be repaid in eight equal semi-annual instalments after a 12-month grace period.
There is an Accordion feature in the transaction for up to USD 1.5 billion, subject to Transnet’s
consent until Dec 2022. Given the Accordion feature Transnet will have approximately
USD 800mn available for drawdown up until 31 December 2022, subject to market conditions
and investor appetite.

The transaction saw participation from a number of investors and Development Finance
Institutions (DFIs), demonstrating confidence in Transnet and expanding the company’s
investor base. The institutions included Deutsche Bank AG as Global Coordinator, Bookrunner
and Arranger, Africa Finance Corporation as Bookrunner & Arranger, African Export-Import
Bank as Bookrunner & Arranger and Ahli United Bank as Lead Manager.

Commenting on the transaction, Transnet’s Group Chief Financial Officer, Nonkululeko
Dlamini said: “This is a significant milestone to stabilise Transnet’s liquidity position in support
of our financial sustainability. It has been the single largest funding transaction which
Transnet has been able to secure in the last 7 years with the benefit of diversifying our
investor base in the process. The confidence that these investors have demonstrated is
encouraging and we continue to focus on improving the operational and financial
performance of Transnet“.

Johannesburg
12 July 2022

JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 12-07-2022 05:30:00
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