Sasol refinances its banking facilities into a new banking facility

‘This transaction was launched with a targeted facility size of about R45bn, which was subsequently increased to $2.969bn based on notable over-subscription,’ Sasol said. Picture: Simphiwe Mbokazi/African News Agency (ANA)

‘This transaction was launched with a targeted facility size of about R45bn, which was subsequently increased to $2.969bn based on notable over-subscription,’ Sasol said. Picture: Simphiwe Mbokazi/African News Agency (ANA)

Published Apr 19, 2023

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Sasol said yesterday that it had refinanced its existing banking facilities – due to mature in the calendar year 2024 – into a new banking facility totalling $2.9 billion (R53.8bn).

In a statement, the group said the new banking facility comprises a $1.98bn revolving credit facility and a $982m term loan facility, both with a five-year maturity and two extension options of one year each.

“This transaction was launched with a targeted facility size of $2.5bn, which was subsequently increased to $2.969bn based on notable over-subscription,” Sasol said.

Sasol has mandated Bank of America Europe, Mizuho Bank, and MUFG Bank as Joint Global Co-ordinators for the transaction, which launched in February 2023 to a targeted group of banks.

“Syndication was oversubscribed with 14 banks committing, allowing Sasol to increase the facility,” the group said.

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