Naspers successfully prices $1 billion bond offering

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.

The bonds will be fully and unconditionally guaranteed by Naspers, the company said in a statement.

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 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, which currently constitutes 17% of the 166-member index, has gained 28% in 2017, primarily because Tencent, of which it owns a third, surged almost 50% in Hong Kong.

However the company has also faced controversy  following the much publicised circulation of an open investor letter, calling for the unbundling of Tencent from the rest of Nasper’s shares.

Read: Naspers shows appetite for Takealot profitability

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Naspers successfully prices $1 billion bond offering