JOHANNESBURG, Nov. 23, 2017 /CNW/ - Sasol, the South African
chemicals and energy company, has increased its existing
US$1,5 billion Revolving Credit
Facility ("the Facility") to US$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
US$3,0 billion, which was
subsequently increased to US$3,9
billion given the notable oversubscription.
Citi and Mizuho Bank, Ltd. 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 with17 banks committing,
allowing Sasol to increase the Facility and offer scale back to the
Joint Global Co-ordinators, BMLAs and the MLAs.
Along with the Joint Global Co-ordinators, there were eight
other BMLAs: ABN AMRO Bank N.V., Bank of America Merrill Lynch, BNP
Paribas S.A. South Africa Branch,
Intesa Sanpaolo Bank Luxembourg S.A., J.P. Morgan Securities plc.,
The Bank of Tokyo-Mitsubishi UFJ Ltd., Sumitomo Mitsui Banking
Corporation Europe Limited and UniCredit Bank Austria.
Barclays Bank PLC, Deutsche Bank and HSBC joined as MLAs, Export
Development Canada and Standard Chartered Bank joined as Lead
Arrangers and Wells Fargo Bank N.A. London Branch and Société Générale joined as
Arrangers.
EY acted as Independent Financial Advisor to Sasol in respect of
the transaction.
About Sasol:
Sasol is an international integrated
chemicals and energy company. Through our talented people, we use
selected technologies to safely and sustainably source, produce and
market chemical and energy products competitively to create
superior value for our customers, shareholders and other
stakeholders.
SOURCE Sasol Limited