Multimedia giant Naspers today announced a US$750 million bond offering, the proceeds of which will be used for the payment of future acquisitions.
“Shareholders are advised that Naspers’ indirect wholly owned subsidiary, MIH (Myriad International Holdings) B.V., on 11 July 2013, successfully priced its US$750 million six per cent notes due 2020,” said Naspers in a statement.
Naspers said it will “fully and unconditionally” guarantee the bonds. Furthermore, Naspers said an application was made regarding the admission of the “bonds to listing on the Official List” and trading on the Global Exchange Market of the Irish Stock Exchange.
Aside from acquisitions, Naspers said the net proceeds will also be used for general corporate purposes as well as paying towards outstanding amounts under the group’s revolving credit facilities.
HumanIPO reported last month Naspers had reported a full-year profit increase of 23 per cent following growth in DStv subscribers as well as an increase in internet revenue.
The company has also added Indian online ticketing company RedBus to its portfolio of e-commerce businesses in June through subsidiary Ibibo Group.
Naspers also confirmed to HumanIPO in March it had acquired a 50 per cent stake in Nigerian online megastore Konga.com.
