Sasol swaps near-term debt for long-term obligation at 8.75%
$416.204 million of Sasol’s 6.500% notes due 2028 have been retired and cancelled. The repayment was funded through the closing of a new $750 million offering of 8.750% senior notes due 2033. That issuance satisfied the financing condition required to proceed with Sasol’s liability management program. With the 2028 notes removed from the balance sheet, the company has set a capped maximum of $333.796 million for its concurrent tender offer on its 8.750% notes due 2029. The transaction extends the maturity of a portion of its debt but locks in a higher interest rate for the next nine years.
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