Sasol launches tender offers for $1.75 billion in outstanding debt securities

Sasol Financing USA LLC (NYSE: SSL) announced the commencement of cash tender offers to purchase outstanding debt securities with a combined value of up to $1.75 billion, according to a company statement.

The company is offering to purchase all of its outstanding 6.500% notes due 2028, valued at $750 million, and up to $750 million of its 8.750% notes due 2029. The tender offers are part of efforts to enhance the company's debt maturity profile.

For the 2028 notes, Sasol will pay $1,012.50 per $1,000 principal amount. The 2029 notes carry a tender offer consideration of $1,022.50 per $1,000 principal amount, with an additional $30 early tender premium for notes submitted before the April 13, 2026 deadline, bringing the total consideration to $1,052.50.

The tender offers are conditional upon the successful completion of a new senior notes offering due 2033, guaranteed by Sasol Limited, expected to occur on April 10, 2026. The company intends to fund the debt purchases with proceeds from this new debt financing.

The tender offer for 2028 notes expires at 5:00 p.m. New York time on April 6, 2026, while the offer for 2029 notes expires on April 28, 2026. Payment for accepted 2028 notes will be made on April 10, 2026, and payment for 2029 notes will be made on April 30, 2026.

J.P. Morgan Securities plc and MUFG Securities EMEA plc serve as dealer managers for the tender offers. Kroll Issuer Services Limited acts as the tender agent.

Sasol Limited's board of directors has provided necessary approvals for the transaction, including financial assistance provisions under South African Companies Act requirements.

You May Also Be Interested In

• Robinhood prices $2B convertible notes offering due 2029
• Sun Communities names Ileana McAlary as general counsel and EVP
• Ridgepost Capital acquires Stellus Capital Management for $4B AUM