By Christine Van Dusen
Atlanta, July 14 – South Africa’s Naspers Ltd. sold $1.2 billion of notes due in 2025 (expected ratings: Baa3/BBB-/BB+) at Treasuries plus 310 basis points on Tuesday, a market source said.
The notes were talked at a spread of 325 bps.
Barclays, Citigroup, BofA Merrill Lynch and BNP Paribas were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes, including acquisitions and the repayment of credit.
Other details were not immediately available on Tuesday.
Naspers is a mass media company based in Cape Town.
| Issuer: | Naspers Ltd.
|
| Amount: | $1.2 billion
|
| Maturity: | 2025
|
| Description: | Notes
|
| Bookrunners: | Barclays, Citigroup, BofA Merrill Lynch, BNP Paribas
|
| Spread: | Treasuries plus 310 bps
|
| Change-of-control put: | At 100%
|
| Trade date: | July 14
|
| Expected ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 325 bps
|
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