Seeking Alpha

Sasol seeks $5B-$7B in financing for Louisiana petrochemical plant

  • Sasol (SSL) needs to raise $5B-$7B, which may include selling bonds in the U.S., to fund a petrochemical plant in Louisiana that would start up in 2017, CEO David Constable says.
  • The hunt for cash comes against a backdrop of rising borrowing costs for emerging market companies that drove SSL’s Nov. 2022 bond yield to a record 6.2% on Sept. 5 before falling 27 bps since then.
  • SSL is trying to finance a cracker which will convert ethane natural gas to ethylene, which would precede a $14B facility to convert gas to liquid fuel; it will make the final investment decision on the cracker in 2014 and on the gas-to-liquids plant 18-24 months later.
Comments (1)
  • The Geoffster
    , contributor
    Comments (4009) | Send Message
    SSL has great gas to liquid technology. Exports should significantly grow revenues.
    16 Sep 2013, 08:10 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: