Sasol Prices $750M 8.75% Senior Notes Due 2033 for Debt Refinancing
Sasol Financing USA LLC priced a $750 million Rule 144A/Reg S senior note due 2033 at 8.75% coupon, fully guaranteed by Sasol Limited, closing April 10, 2026. Proceeds will repay existing debt and fund general corporate purposes, potentially extending maturity profile and raising annual interest costs.
1. Offering Details
On April 1, Sasol Financing USA LLC priced $750 million of US dollar senior notes due April 10, 2033, at an annual coupon of 8.75%. The offering, structured under Rule 144A and Regulation S, is slated to close on April 10, 2026.
2. Use of Proceeds and Impact
Proceeds will repay existing indebtedness and fund general corporate purposes. While extending debt maturity by seven years, the issuance raises annual interest obligations by roughly $65.6 million, potentially increasing overall borrowing costs and adjusting leverage ratios.
3. Terms and Guarantees
The unsecured notes are fully guaranteed by Sasol Limited and subject to customary closing conditions. Distribution is limited to qualified institutional investors, excluding retail participation under EU and UK private offering exemptions without a public prospectus.