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.

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?