Sasol signs $3.9 billion revolving credit facility

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Sasol, the South African chemicals and energy company, has increased its existing $1.5 billion Revolving Credit Facility to $3.9 billion and extended the maturity to five years with the inclusion of two further extension options of one year each.

Sasol launched this transaction with a targeted facility size of $3.0 billion, which was subsequently increased to $3.9 billion given the notable oversubscription.

Citi and Mizuho Bank, were mandated as Joint Global Co-ordinators for the transaction, which launched in early November 2017 to a targeted group of banks.

The Joint Global Co-ordinators each pre-committed to the transaction and invited banks to commit at one of three ticket levels with the following titles: Bookrunner and Mandated Lead Arranger (BMLA), Mandated Lead Arranger (MLA) and Lead Arranger.

The Company also accommodated a limited number of smaller tickets with the Arranger title.

Syndication closed oversubscribed with 17 banks committing, allowing Sasol to increase the Facility and offer scale back to the Joint Global Co-ordinators, BMLAs and the MLAs.

EY acted as Independent Financial Advisor to Sasol in respect of the transaction.

 

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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