Sanral raises R500-million in bond auction

Paul Hjul

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at what price?

Sanral claiming a "below mark-market price" is undoubtedly a lie - and one they've been caught making before
 

z6cpo3

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Crazy situation. Investors wouldn't inject 500M in toptv to break the dstv monopoly
But there are some investors ready to put 500M in a company the nobody wants and that spent 50M to recover 50M...
Weird!
 

kianm

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Crazy situation. Investors wouldn't inject 500M in toptv to break the dstv monopoly
But there are some investors ready to put 500M in a company the nobody wants and that spent 50M to recover 50M...
Weird!

Very weird indeed, that money could be put to much much better use
 

Venomous

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probably gauvamint peoples....

all the gauvamint sectors employees pension funds are at risk here.... remember
 

creeper

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My gut tells me it is govt companies and managed funds that bought eg. IDC, PIC etc
 

UserZ

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Better article here with analyst:
http://www.bdlive.co.za/business/transport/2014/05/22/sanral-auction-shows-investors-faith


If things go sour for Sanral, investors know they can approach the government for recourse, said RMB credit analyst Elena Ilkova

Sanral’s test might come when it issued its NRA bond series, which was not guaranteed by the government, said Ms Ilkova. Investors might approach them more cautiously, but even then, it was reasonable to assume the government would support Sanral if it faced prospective default, she said.

Very plausible explanation...

Anyway, in case you missed last month's auction:
http://www.bdlive.co.za/business/tr...-debacle-fails-to-slow-demand-for-sanral-bond
 

cfilorux

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Sanralotto!

Hey buddy, wanna buy a high risk investment? Government connections ... big returns ... there is a risk of no return, but seriously, this is government, how likely is that?
 
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themba990

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Sanral is doing what I do with my credit cards, take out a new one to pay off the old one. Winning :D
 

The_Unbeliever

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And why not? It's taxpayers' money, free for the taking.

Bugger the social commitments, oinkers are more imporkant now...
 

Petec

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And don't forget it's the pension funds etc, that will also have to cough up when the scamral disaster goes titsup.
 

DJ...

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Notice they are only issuing in the HWAY series which is government guaranteed, so it's a no-brainer for asset manager to get involved as the HWAY series offers great returns. This would never happen under the NRA series of bonds...
 

Creag

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So did they use outstanding debts as collateral for this? And who in their right mind would invest in the parastatal? Idiots!
 

Paul Hjul

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Notice they are only issuing in the HWAY series which is government guaranteed, so it's a no-brainer for asset manager to get involved as the HWAY series offers great returns. This would never happen under the NRA series of bonds...
in comparison to other HWAY series bond issues how did this particular issue return?
 

Paul Hjul

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So did they use outstanding debts as collateral for this? And who in their right mind would invest in the parastatal? Idiots!

Fully guaranteed by the capacity of the Government of the Republic to collect the monies by way of tax, so anybody with a brain. This series isn't a partial surety it is an outright safety stream investment for any asset manager.
 
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