Johannesburg - The South African National Roads
Agency Limited (Sanral) has tapped into its two bonds with maturities in 2020
and 2034 in the second auction under the domestic medium-term note programme,
with R750m being raised.
Overall bids received during the auction totalled R1.805bn.
R750m of bonds were allocated at market spreads of 0.75% and 0.77% over
the RSA government benchmarks.
Including the R9.95bn raised without a guarantee, Snaral has now
raised R12.2bn 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.
- I-Net Bridge