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South Africa's Naspers says unit successfully prices $1 billion bond
June 30, 2017 / 10:57 AM / 5 months ago

South Africa's Naspers says unit successfully prices $1 billion bond

June 30 (Reuters) - South African e-commerce group Naspers said on Friday that its subsidiary Myriad International Holdings B.V. (MIH B.V.) had successfully priced a $1 billion bond to fund a note repayment and acquisitions.

Naspers, Africa’s biggest listed company by market size, said it would fully and unconditionally guarantee the bond.

Nasper said last week MIH B.V. was exploring the possibility of an international U.S. dollar bond and would launch a roadshow to meet potential investors, but gave no timeframe.

“The net proceeds will be used for general corporate purposes, including acquisitions, and to repay MIH B.V.’s existing notes maturing in July 2017,” Naspers said in a statement.

By 1041 GMT shares in Naspers had dipped 0.68 percent to 2532.75 rand. (Reporting by Tanisha Heiberg; Editing by Ed Stoddard)

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