South African National Roads Agency Limited (Sanral) has raised
R406m by tapping into its HWAY20, HWAY23 and HWAY34 bonds
in its fourth auction for 2010, it said on Wednesday.
"There has been continued strong support from investors with bids
received during the auction totalling R721m.
"R406m of bonds were allocated at market spreads tighter than
previous issues," Sanral added.
Sanral has now raised R17.3bn of funding in total for the expansion
and upgrade of toll roads, particularly the Gauteng Freeway Improvement Project which was on schedule for the 2010 FIFA World
Cup, it said.
Absa Capital and Rand Merchant Bank were appointed as Joint Lead Arrangers
and Market Makers on Sanral's JSE listed Domestic Medium Term Note Programme.