A&O Shearman has advised Sasol Limited ("Sasol")—a leading global chemicals and energy company—on its USD750m bond issuance as well as the concurrent tender offers of Sasol's outstanding debt securities maturing in 2028 and 2029.
The transaction, aimed at enhancing Sasol's debt maturity profile, included the issuance of USD750m aggregate amount of senior notes; and a series of concurrent tender offers to purchase for cash of any and all of Sasol's outstanding 6.500% notes due 2028 and up to USD333,796,000 aggregate principal amount of its 8.750% notes due 2029, funded in each case with cash on balance sheet and the net proceeds from the senior notes offering.
"This transaction demonstrates Sasol's proactive approach to balance sheet management, successfully accessing the capital markets to extend its debt maturity profile on attractive terms. We were delighted to support Sasol on this strategically important offering and the concurrent tender offers, which together represent a significant step in optimizing the company's capital structure."
Partner
A global chemicals and energy company, Sasol harnesses its knowledge and over 75 years' experience in the production and marketing of chemicals and fuels to integrate sophisticated technologies and processes into world-scale operating facilities, striving to safely and sustainably source, produce, and market a range of high-quality products globally.
The team was led by partner Trevor Ingram, senior associate Eva Andronikou, and associate Silvia Montanya.