TRANSPORT: R500 Million More for Roads
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The South African National Roads Agency Limited
(‘SANRAL’) in its last auction for 2009 raised R500 million under its Domestic
Medium Term Note Programme carrying a full guarantee from the Government of the
Republic of South Africa, by tapping into its two bonds with maturities in 2020
Overall bids received during the auction totalled R846 million. R500 million of bonds were allocated at market spreads of 0,65% and 0,655% over the RSA Government benchmarks.– tighter than the previous closing spreads.
Including the R9,95 billion raised without a guarantee, SANRAL has now raised R14.05 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.
Business News Sector Tags: Travel|