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Johannesburg - The South African National Roads
Agency Limited (Sanral) in its first auction for 2010 raised R1bn
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 and 2034.
Overall bids received during the auction totalled R1.851bn. R1bn of bonds were allocated at market spreads of 0.58% and 0.60% over
the RSA Government benchmarks - tighter than the previous closing spreads.
Including the R9.95bn raised without a guarantee, Sanral has now
raised R15.05bn 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.
Absa Capital and Rand Merchant Bank are appointed as Joint Lead
Arrangers and Market Makers on Sanral's Besa listed Domestic Medium Term
Note Programme.
- I-Net Bridge