Naspers, Africa’s biggest tech and media firm, said on Friday that it has successfully priced a $1 billion (R13 billion) bond.
The tech firm, which owns stakes in China’s Tencent and Russia’s Mail. Ru, said the coupon of the bond, which is due to mature in 2027, was placed at 4.85%.
The company, which owns MultiChoice Africa, is raising the bond through its wholly-owned subsidiary Myriad International Holdings (MIH).
“The net proceeds will be used for general corporate purposes, including acquisitions, and to repay MIH’s existing notes maturing in July 2017,” the company informed investors on the JSE filing on Friday.
Naspers will fully and unconditionally guarantee the bonds.
“An application has been made for the admission of the bonds to listing on the official list and trading on the Global Exchange Market of the Irish Stock Exchange,” the company said.
The company’s shares have risen more than 26% in the past six months, giving Naspers a R1.1 trillion market capitalisation.