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Long-term debt

12 Months Ended

Jun. 30, 2025

Long-term debt.

Long-term debt

13 Long-term debt

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​	​	​	​	​
​		2025		2024
​	​	​	​	Reclassified*
for the year ended 30 June	​	Rm	​	Rm
Total long-term debt	​	102 645		117 031
Short-term portion*	​	(14 091)		(13 160)
Long-term portion*	​	88 554		103 871
Analysis of long-term debt	​	​
At amortised cost	​	​	​	​
Unsecured debt	​	103 037		117 559
Unamortised loan costs	​	(392)		(528)
​	​	102 645		117 031
Reconciliation	​	​
Balance at beginning of year	​	117 031		124 068
Loans raised¹	​	471		30 692
Loans repaid²	​	(14 060)		(35 468)
Interest accrued	​	1 505		1 551
Amortisation of loan costs	​	126		161
Translation of foreign operations	​	(2 428)		(3 973)
Balance at end of year	​	102 645		117 031
Interest-bearing status	​	​
Interest-bearing debt	​	102 645		117 031
Maturity profile	​	​
Within one year	​	14 091		13 160
One to five years	​	72 309		87 629
More than five years	​	16 245		16 242
​	​	102 645		117 031

* Prior year numbers have been reclassified on adoption of the amendments to IAS 1, refer to note 1.

1 2024 relates mainly R2,4 billion raised under the new DMTN programme and US$1,5 billion (R27 billion) that was drawn under the Revolving Credit Facility (RCF).

2 2025 mainly relates to partial repayment of the RCF of R13 billion. In October 2024 US$0,3 billion (R5,4 billion) was repaid and in June 2025 US$0,4 billion (R7,1 billion) was repaid. 2024 relates mainly to the US$1,5 billion (R28 billion) US Dollar bond that was repaid in March 2024, as well as partial settlements of US$0,3 billion (R5,5 billion) in May and June 2024 on the RCF.

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13 Long-term debt continued

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2025

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2024

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Total

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Utilised

​

​

​

​

​

​

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Interest

​

Contract

​

Rand

​

Available

​

Utilised

​

facilities

​

​

​

​

​

​

​

rate

​

amount

​

equivalent

​

facilities

​

facilities

​

Reclassified*

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for the year ended 30 June

Expiry date

Currency

%

million

Rm

Rm

Rm

Rm

​

Banking facilities and debt arrangements

​

​

​

​

​

​

​

​

​

​

Group treasury facilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial paper (uncommitted)

None

Rand

3 month Jibar + 1,42% - 1,59%

​

15 000

15 000

10 566

​

4 434

4 434

​

Commercial banking facilities

None

Rand

**

​

7 450

7 450

7 450

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—

—

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Revolving credit facility¹

April 2030

US dollar

SOFR+ Credit Adj +1,45%

​

1 987

35 269

26 394

​

8 875

21 831

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Debt arrangements

​

​

​

​

​

​

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​

​

​

​

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US Dollar Bond²

September 2026

US dollar

4,38%

​

650

​

11 538

​

—

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11 538

11 825

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US Dollar Convertible Bond³

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November 2027

​

US dollar

​

4,50%

​

750

13 313

—

​

13 313

​

13 644

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US Dollar Bond²

​

September 2028

​

US dollar

​

6,50%

​

750

​

13 313

​

—

​

13 313

​

13 644

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US Dollar Bond²

May 2029

US dollar

8,75%

​

1 000

​

17 750

​

—

​

17 750

18 193

​

US Dollar term loan

April 2030

US dollar

SOFR+ Credit Adj +1,65%

​

982

​

17 439

​

—

​

17 439

17 874

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US Dollar Bond²

​

March 2031

​

US dollar

​

5,50%

​

850

​

15 088

​

—

​

15 088

​

15 464

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Other Sasol businesses

​

​

​

​

Specific project asset finance

​

​

​

​

Energy – Clean Fuels II (Natref)

Various

Rand

Various

​

1 266

1 266

—

​

1 266

966

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Other

​

Various

​

Various

​

—

—

—

​

707

909

​

​

​

​

​

​

​

​

​

​

​

​

44 410

​

103 723

118 784

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Available cash excluding restricted cash

​

​

​

38 422

​

​

​

Total funds available for use

​

​

​

82 832

​

​

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Accrued interest

​

​

​

​

​

1 505

1 551

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Unamortised loan cost

​

​

​

​

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(392)

(528)

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Cumulative fair value gains and foreign exchange movements on convertible bond and embedded derivative financial liability

​

​

​

​

​

​

​

​

​

​

​

​

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(1 517)

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(2 030)

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Total debt including accrued interest and unamortised loan cost

​

​

​

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103 319

117 777

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Comprising

​

​

​

​

​

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Long-term debt*

​

​

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88 554

103 871

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Short-term debt*

​

​

​

​

​

14 757

13 726

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Short-term debt

​

​

​

​

​

666

566

​

Short-term portion of long-term debt

​

​

​

​

​

14 091

13 160

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Bank overdraft

​

​

​

​

​

1

121

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Convertible bond derivative financial liability

​

​

​

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​

​

​

​

​

​

​

7

​

59

​

​

​

​

​

​

​

​

​

​

​

​

​

​

103 319

​

117 777

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* Prior year numbers have been reclassified on adoption of the amendments to IAS 1, refer to note 1.

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13 Long-term debt continued

**Interest rate only available when funds are utilised.

1 In October 2024 US$0,3 billion (R5,4 billion) was repaid on the RCF and another US$0,4 billion (R7,1 billion) was repaid in June 2025.

2 Included in this amount is the US$3,25 billion (R57,7 billion) bonds with fixed interest rates of between 4,38% and 8,75% which are listed and is recognised in Sasol Financing USA LLC (SFUSA), a 100% owned subsidiary of the Group. Sasol Limited has fully and unconditionally guaranteed the bonds. There are no restrictions on the ability of Sasol Limited to obtain funds from the finance subsidiary, SFUSA, by dividend or loan.

3 The convertible bond have a principal amount of US$750 million and contain conversion rights exercisable by the bond holders at any time before maturity of the bond on 8 November 2027. The convertible bond pay a coupon of 4,5% per annum, payable semi-annually in arrears and in equal instalments on 8 May and 8 November of each year. The convertible bond can be settled in cash, Sasol ordinary shares, or any combination thereof at the election of Sasol. The conversion price (initially set at US$20,39) is subject to standard market anti-dilution adjustments, including, among other things, dividends paid by Sasol. The conversion price at 30 June 2025 was US$18,79 (30 June 2024: US$18,79).

Accounting policies:

Debt, which constitutes a financial liability, includes short-term and long-term debt. Debt is initially recognised at fair value, net of transaction costs incurred and is subsequently stated at amortised cost using the effective interest rate method. Debt is classified as short-term unless the borrowing entity has a right to defer settlement of the liability for at least 12 months after the reporting date.

Debt is derecognised when the obligation in the contract is discharged, cancelled or has expired. Premiums or discounts arising from the difference between the fair value of debt raised and the amount repayable at maturity date are charged to the income statement as finance expenses based on the effective interest rate method. A debt modification gain or loss is recognised immediately when a debt measured at amortised cost has been modified. The convertible bond is a hybrid financial instrument consisting of a non-derivative host representing the obligation to make interest payments and to deliver cash to the holder on redemption of the bond (‘the bond component’); and a conversion feature which is accounted for as an embedded derivative financial liability. The bond component was recognised at fair value at inception date. The fair value was determined by subtracting the fair value attributable to the embedded derivative from the fair value of the combined instrument. The bond component is measured subsequently at amortised cost using the effective interest rate of 8,5%. The option component is recognised as a derivative financial liability, measured at fair value, with changes in fair value recorded in profit or loss and reported separately in the statement of financial position in long-term financial liabilities.

The bond component and related embedded derivative are classified as current liabilities as the holders may convert at any time.

Refer to note 35 for the accounting policies relating to embedded derivatives.

X

- Definition

The disclosure of borrowings. [Refer: Borrowings]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 10
-Subparagraph e
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2024-03-27

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- References

No definition available.

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