Our press releases

SANRAL raises R750 million

2 September 2009

The South African National Roads Agency Limited (SANRAL) in the second auction under the Domestic Medium Term Note Programme carrying a full guarantee from the Government of the Republic of South Africa, tapped into its two bonds with maturities in 2020 and 2034.

Overall bids received during the auction totalled R1,805 billion. R750 million of bonds were allocated at market spreads of 0,75% and 0,77% over the RSA Government benchmarks.

Including the R9,95 billion raised without a guarantee, SANRAL has now raised R12,2 billion of funding for the expansion and upgrade of toll roads, particularly the Gauteng Freeway Improvement Project which is planned to be substantially completed before the 2010 FIFA World Cup.

Absa Capital and Rand Merchant Bank are appointed as Joint Lead Arrangers and Market Makers on SANRAL's BESA listed Domestic Medium Term Note Programme.

end

Contact Details:
Absa Capital
Leigh Cunningham Scott
Tel: 011 895 7036
Email: leigh.cscott@absacapital.com

Rand Merchant Bank
Gill Raine
Tel: 011 282 8124
Email: gill.raine@rmb.co.za

SANRAL
Philip Gildenhuys
Tel: 011 214 8078
Email: gildenhuysp@nra.co.za

Click here to return to press releases