DEALS

Innovative capital raising
execution in locomotion

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We are proud to have arranged a USD 1 Billion international bond issuance and related bridge loan for Transnet.

Transnet SOC Limited (“Transnet”) is the South African government owned operator, owner and custodian of a major portion of South Africa’s transport infrastructure. Transnet’s infrastructure facilitates economic activity and growth through facilitating South Africa’s international trade.

The transaction was an international bond, listed on the London Stock Exchange (ISM), and placed with global Emerging Market investors across the US, UK, Europe, Asia and South Africa. The successful issuance of this bond signals the opening of a renewed source of funding, providing Transnet liquidity to fund capital expenses, helping to grow the business and improve South Africa’s supply-chain infrastructure. Absa acted as Bookrunner and Joint Lead Manager on the deal, as well as Mandated Lead Arranger on the related bridge loan

This deal demonstrates our ability to solution for clients and support them with the best-in-class global execution to meet their ambitions. We concluded this transaction successfully at a time that the international markets were reopening for Emerging Market issuers following an extended period of global risk-off sentiment. We were able to do this due to our deep understanding of Transnet’s business, our unmatched knowledge of the South African operating landscape and  our global distribution network to access the international investor base.

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