Significant cost overruns and corporate governance failures at the US project has weighed on the group
06 March 2020 - 08:13A man walks past a Sasol synthetic fuel plant. Picture: REUTERS
The group reported that it had long-term debt of R121.28bn as of its half year to end-December, up 6.3% from the previous comparative period. This exceeds its market capitalisation of R106.26bn as of Friday morning. “We remain focused on managing the factors within our control — delivering safe, strong and stable operational performance and protecting the balance sheet as we bring the Lake Charles Chemicals Project to completion and start deleveraging,” he said.
About $1bn is due for refinancing by the end of 2020, but the bulk of it is three to five years out, Davids said.
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