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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