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Sasol slumps after announcing $750m convertible bond issue-EISH WHEN YOU DISHONEST!!!!EINA

Home Forums NATS NIBBLES Sasol slumps after announcing $750m convertible bond issue-EISH WHEN YOU DISHONEST!!!!EINA

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    Nat Quinn
    Keymaster

     

    Sasol shares took the biggest hammering in more than a year on Tuesday after the synthetic fuels and chemicals giant unveiled plans to raise $750m (almost R14bn) in convertible bonds to replenish capital reserves and refinance debt.

    Sasol set the conversion price at $20.30, a 30% premium to the volume-weighted average price between the opening trades and pricing of the transaction on Tuesday, and at the bottom end of an earlier announced range…

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