The South African National Roads Agency Limited (SANRAL) in its fifth auction for 2010 raised R400 million under its Domestic Medium Term Note Programme carrying a full guarantee from the Government of the Republic of South Africa, by tapping into its HWAY20, HWAY23 and HWAY34 bonds.

There has been continued strong support from investors with bids received during the auction totalling R620 million, SANRAL said in a statement Wednesday.

Including the R9.95 billion raised without a guarantee, SANRAL has now raised R17.7 billion of funding for the expansion and upgrade of toll roads, particularly the Gauteng Freeway Improvement Project which is on schedule for the 2010 FIFA World Cup.

Absa Capital and Rand Merchant Bank are appointed as Joint Lead Arrangers and Market Makers on SANRAL's JSE listed Domestic Medium Term Note Programme.

SANRAL added that construction will cease on Sunday 6 June except in the Pretoria area on the frontage roads between Lynwood and Atterbury and the flyover at the R21 interchange.

Construction on the flyover will cease on 9 June and the flyover will be opened on 10 June. The switchback ramp at the Gillooly's interchange opened on 1 June.

Construction works will continue throughout the World Cup on the N12 from the R24 to the Tom Jones interchange. This will not affect access to the OR Tambo International Airport or to any of the soccer stadiums.

Absa Capital and Rand Merchant Bank are appointed as Joint Lead Arrangers and Market Makers on SANRAL's JSE listed Domestic Medium Term Note Programme.