Published: July 12, 2013
Deal is first trip to market by African corporate since May.
Naspers, Africa’s largest media company, has raised US$750mn in seven-year bonds. It is the first trip by an African company to the international capital markets since May, as fears about the end of quantitative easing locked out emerging market players.
The bond has a yield of 6%, marginally less than the 6.375% the company garnered on its last trip to the market in 2010, when it raised US$700mn. Funds will go towards the repayment of existing credit facilities and future acquisitions, the company said in a filing to the Johannesburg Stock Exchange on July 2.