Edcon bonds trade up on card portfolio sale

The high yield bonds of South African retailer Edcon tightened after the company announced the sale of its private label store credit card portfolio on Wednesday.

  • 08 Jun 2012

Edcon’s €317m 9.5% 2018 bonds jumped nearly six points, to 92.25, to yield 11.374% on Thursday. The previous day of trading before Wednesday was last Friday, because of the UK’s four-day Jubilee celebrations, when the bonds were last seen at 86.42.

The company’s $250m 9.5% 2018 dollar notes ...

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1 JPMorgan 6,606.50 25 7.67%
2 Citi 6,511.98 28 7.56%
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4 Barclays 4,571.59 20 5.31%
5 Mizuho 4,473.33 18 5.19%

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1 BNP Paribas 27,573.19 139 4.12%
2 Deutsche Bank 23,285.69 86 3.48%
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5 Citi 20,125.03 88 3.01%

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1 Deutsche Bank 7,800.70 49 5.17%
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1 JPMorgan 297.36 3 36.61%
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1 Citi 1,719.55 7 10.93%
2 Mizuho 1,561.12 5 9.92%
3 BNP Paribas 951.16 5 6.05%
4 JPMorgan 868.57 2 5.52%
4 Bank of America Merrill Lynch 868.57 2 5.52%