Edcon scraps dollar tranche, goes for €325m in just euros

08 Feb 2013

South Africa’s Edcon, the country’s largest non-food retailer, changed the structure of its high yield bond issue on Friday. The company dropped its dollar tranche to price the planned €325m-equivalent deal entirely in euros.

Goldman Sachs (billing and delivering on the euro notes), Morgan Stanley (billing and delivering on the dollar notes) and Barclays are joint global coordinators on the new bond, with Bank of America Merrill Lynch and JP Morgan joining as bookrunners.

Revised guidance released on Friday morning involved only one ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial