This followed successful road shows by Transnet in the UK and North America‚ the company said.
"For the country‚ the issuance confirms South Africa as one of the leading investment destinations among emerging markets and provides a much-needed boost for investment inflows. It signals increasing investor confidence in South Africa's economy‚" Transnet said.
"Moreover, the issuance confirmed Transnet's improved credit standing and investor confidence in its ability to execute programmes under its market demand strategy," the company said adding that it is in line with the board-approved funding strategy of diversifying funding sources while lowering our average cost of debt.
The bond‚ which matures in 2021‚ is the third issuance under Transnet's global medium-term note (GMTN) programme and is required to meet Transnet's funding requirement for its large investment projects.
All Transnet's bonds under the GMTN programme are issued on the strength of Transnet's balance sheet with no government guarantees.
Transnet said it would use the proceeds to fund part of its R307.5bn seven-year infrastructure investment programme‚ which had prioritised expanding South Africa's rail‚ port and pipeline infrastructure.
As a result of the transaction and other facilities‚ Transnet had met the R15.6bn funding requirement for the current financial year.
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