Johannesburg, South Africa – Sasol Limited (“Sasol”) announced today that its wholly owned subsidiary Sasol Financing USA LLC (the “Borrower”) has entered into new $1,8 billion US dollar-denominated senior unsecured credit facilities, comprised of a $1,65bn term loan facility (the “Term Loan”) and a $150m revolving credit facility (the “RCF”, and together with the Term Loan, the “Facilities”). The Facilities, which have a tenor of five years, will be used to refinance in full the outstanding Lake Charles Chemical Project asset finance loan.
Bank of America Merrill Lynch, Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation were mandated as Global Coordinators, Bookrunners and Mandated Lead Arrangers for the transaction, which was syndicated to a targeted group of relationship banks.
Along with the Bookrunners, there were two other Mandated Lead Arrangers: BNP Paribas S.A. and Industrial and Commercial Bank of China Limited, London Branch.
Bank of China Limited, Johannesburg Branch, China Construction Bank, Johannesburg Branch, Citibank, N.A., Intesa Sanpaolo S.p.A., New York Branch, J.P. Morgan Securities plc and MUFG joined as Lead Arrangers.
Rothschild & Co and Identity Advisory acted as Independent Financial Advisors to Sasol in respect of the transaction.
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Please note: One billion is defined as one thousand million. bbl – barrel, bscf – billion standard cubic feet, mmscf – million standard cubic feet, oil references brent crude, mmboe – million barrels oil equivalent. All references to years refer to the financial year 30 June. Any reference to a calendar year is prefaced by the word “calendar”.