Sasol (SSL) Financing said Tuesday that it accepted for purchase about $416.2 million of its outstanding 6.5% notes due 2028 in a cash tender offer.

The company said it received valid tenders for $416.2 million of the $750 million principal outstanding as of Monday, citing data from tender agent Kroll. The company also said it received tender instructions for $236,000 through guaranteed delivery procedures, which remain open until Wednesday.

Settlement is expected Friday, with holders to receive $1,012.50 per $1,000 principal amount, plus accrued interest, the company said.

The purchase is conditioned on completing at least $750 million in debt financing, which Sasol expects to meet through a planned issuance of 8.750% senior notes due 2033, the company said.