Myriad International Holdings (MIH), the electronic media arm and wholly owned subsidiary of South Africa-based media group Naspers, has priced a bond offering of $750m 6% notes due 2020.
Naspers, which is guaranteeing the bonds, has issued a statement that: “The net proceeds will be used for general corporate purposes, including future acquisitions and the repayment of certain amounts outstanding under the Naspers group’s revolving credit facilities.”
MIH’s recent M&A and investment activity includes the acquisition by Ibibo (80% majority-owned by Naspers/MIH) of India -based online bus ticket agent RedBus, and also a fifth fundraising round for India-based retailer Flipkart.
