| Sasol Announces Completion of US$4 Billion Credit Facility for its World-Scale Ethane Cracker and Derivatives Complex in Louisiana | |
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Sasol Limited (Sasol) (JSE: SOL; NYSE: SSL) today announced the completion of a US$4 billion credit facility for its ethane cracker and derivatives at its existing site in Lake Charles, Louisiana. "Securing this financing facility is another key milestone in advancing a defining project for the company," said Paul Victor, Acting Chief Financial Officer, Sasol Limited. "The support from a large number of international financial institutions is a testament to Sasol's strong standing within the global financial markets." A syndicate of 18 international banks and other financial institutions are lenders for the credit facility. The syndicate consists of: - Book-runners and joint lead arrangers: The Bank of Tokyo-Mitsubishi UFJ, Ltd.; BNP PARIBAS; HSBC Bank USA, National Association; Intesa Sanpaolo S.p.A.; JPMorgan Chase Bank, N.A.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Mizuho Bank, Ltd.; Sumitomo Mitsui Banking Corporation and Citibank, N.A.
- Joint lead arrangers: Absa Bank Limited; KfW IPEX-Bank GmbH; Industrial and Commercial Bank of China Limited; ING Capital LLC; Korea Development Bank and SG Americas Securities LLC.
- Managers: Export Development Canada; Deutsche Bank AG and UniCredit Bank Austria AG.
The Bank of Tokyo-Mitsubishi UFJ, Ltd.is the administrative agent, Bank of America, N.A. is the account bank, and HSBC Bank USA, National Association is the security trustee for the credit facility. The Royal Bank of Scotland plc acted as the project's financial advisor, and Latham & Watkins LLP served as legal advisor for the project. Skadden, Arps, Slate, Meagher & Flom LLP advised the lenders. In October, Sasol announced its final investment decision relating to a US$8.9 billion petrochemical complex, which consists of an ethane cracker that will produce 1.5 million tons of ethylene annually. The complex will also comprise six chemical manufacturing plants, enabling infrastructure and utility improvements. |
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Sasol Ltd.
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CODE : SSL |
ISIN : US8038663006 |
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Sasol is a oil producing company based in South africa. Sasol is listed in South Africa and in United States of America. Its market capitalisation is US$ 5.4 billions as of today (€ 5.1 billions). Its stock quote reached its highest recent level on May 31, 1996 at US$ 9.94, and its lowest recent point on March 20, 2020 at US$ 1.60. Sasol has 651 437 000 shares outstanding. |