Fin24

Sanral raises R750m at auction

2011-03-02 17:00

Johannesburg - South Africa's National Roads Agency raised R750m in a bond auction on Wednesday to help pay for its road expansion programme.

The auction was almost three times subscribed and all six bonds on offer were issued at market spreads or better, Rand Merchant Bank, one of the lead arrangers, said in a statement.

"Sanral appreciates the confidence shown by investors in the toll road programme as well as government's ability to manage debt in a prudent manner," Sanral said.