The facilities comprise a $1.65bn five-year term loan facility and a $150 million revolving credit facility.
Sasol, the biggest maker of liquid fuels from coal, said late last month that the capital cost of the Lake Charles Chemical Project had increased by between $1bn and $1.3bn to between $12.6bn and $12.9bn. This was as a result of oversights in how an earlier estimate had been calculated and additional events and remaining work.
In the last year to December 31, 2018, Sasol’s gearing increased to 48.9 percent from 38 percent at the end of the previous year. Net debt stood at R115.47bn, up 22 percent from R94.55bn the previous year end.
The group had set itself a target in 2017 of keeping gearing between 20 percent and 40 percent, and that gearing would peak temporarily at 44 percent by the end of 2018, a target that was exceeded.