Sun May 19 03:31:49 SAST 2013
Sun May 19 03:31:49 SAST 2013

Transnet issues $1bn Eurobond at 4,141%

Jul 20, 2012 | Reuters | 0 comments

South African state rail freight group Transnet said on Friday its $1 billion Eurobond issued in the United States was oversubscribed and would be used to finance the group’s capital investment programme.

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Transnet did not say by how much the issue, which has a coupon or interest rate of 4,0%, was oversubscribed by.

IFR said it was fetching a yield of 4,141%.

“The bond is the highest amount of money that has ever been raised by Transnet in a single issuance without a government guarantee. At 10 years to maturity, it is also the longest tenor ever issued by Transnet in the international debt capital markets,” Transnet said in a statement.

JP Morgan and Standard Bank acted as bookrunners.

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