Transnet has successfully issued $1bn of five-year bonds in its first international debt sale in more than a decade.

The state-owned rail and port operator issued the debt instruments, which pay a coupon of 8.25%, on January 30 in a sale that was 2.9 times oversubscribed, according to a statement to the JSE’s stock exchange news service on Friday. The bonds, which are listed on the International Securities Market of the London Stock Exchange, form part of Transnet’s $6bn global medium-term note programme (GMTNP)...

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