{"id":180863,"date":"2017-06-22T12:01:37","date_gmt":"2017-06-22T10:01:37","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=180863"},"modified":"2017-06-22T12:09:07","modified_gmt":"2017-06-22T10:09:07","slug":"naspers-looking-at-issuing-u-s-dollar-bond-offering","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/180863\/naspers-looking-at-issuing-u-s-dollar-bond-offering\/","title":{"rendered":"Naspers eyes U.S. dollar bond issue"},"content":{"rendered":"<p>Naspers has announced that it is considering the possibility of an international USD bond offering through its\u00a0wholly-owned subsidiary, Myriad International Holdings B.V. (\u201cMIH B.V.\u201d).<\/p>\n<p>In a shareholder statement released by the company, Naspers said it would further explore the option to issue the bonds by meeting potential investors on a roadshow.<\/p>\n<p>Proceeds from the offering, if completed, are expected to be used for general corporate purposes and to repay MIH B.V.\u2019s existing notes maturing in July 2017.<\/p>\n<p>In a <strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N1JJ1PL\" target=\"_blank\" rel=\"noopener\">report <\/a><\/strong>released by Bloomberg on Wednesday,\u00a0Naspers was considered one of the two stocks (alongside\u00a0luxury retailer Richemont) considered to be &#8220;holding up&#8221; the JSE.<\/p>\n<p>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 to almost 50% in Hong Kong. In comparison Richemont, the second-largest index member at 8.5%, has climbed 18%.<\/p>\n<p>However the company also faced controversy earlier this week following the much publicised circulation of an open investor letter, calling for the unbundling of Tencent from the rest of Nasper&#8217;s shares.<\/p>\n<p>In the letter, director of Swiss-based investment advisory firm AIM&amp;R, Albert Saporta claimed that the value of the Tencent stake relative to Naspers\u2019 market capitalization as grown from 90% to 130% today and was still accelerating.<\/p>\n<p>&#8220;Correspondingly, as implied by the market, the value of Naspers\u2019 dozens of other investments and businesses has declined from a value of R34 billion to negative R300 billion.&#8221;<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/finance\/180627\/these-are-the-6-stocks-helping-hold-up-the-jse-right-now-report\/\" target=\"_blank\" rel=\"noopener\">These are the 6 stocks helping hold up the JSE right now: report<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Naspers has announced that it is considering the possibility of an international USD bond offering through its\u00a0wholly-owned subsidiary, Myriad International Holdings B.V. (\u201cMIH B.V.\u201d).<\/p>\n","protected":false},"author":10,"featured_media":180045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[25],"class_list":["post-180863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=180863"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180863\/revisions"}],"predecessor-version":[{"id":180885,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180863\/revisions\/180885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/180045"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=180863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=180863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=180863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}