Sasol Hires Barclays, HSBC, JPMorgan for Bond Investor Meetings
Sasol Ltd. (SOL), the world’s largest producer of motor fuel from coal, hired Barclays Plc, HSBC Holdings Ltd. and JPMorgan Chase & Co. to arrange meetings with U.S. and European bond investors.
The meetings, which start on Oct. 25, may be followed by the sale of debt securities, Johannesburg-based Sasol said in an e-mailed statement today. The company said yesterday it filed a shelf registration with the Securities and Exchange Commission to sell debt abroad.
Sasol is planning its first sale of dollar bonds to lower the cost of gas-to-liquid plants it is considering building in the U.S. and Canada, the Johannesburg-based company said on Sept. 10. The second-largest South African company by market value after MTN Group Ltd. (MTN) plans to raise debt to as much as 40 percent of equity within three to five years, from 2.7 percent at the end of June, the company said. Sasol has a market value of 239 billion rand.
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