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South Africa guides talk for dual-tranche dollar-denominated notes
By Rebecca Melvin
New York, Sept. 19 – The Republic of South Africa guided talk for dollar-denominated notes in two tranches down to 4 7/8% to 5% for the 10-year tranche and down to 5¾% to 5 7/8% for the 30-year notes, according to a market source on Tuesday.
The pricing was revised from initial talk in the 5% area and the 5 7/8% area, respectively.
Citigroup, Deutsche Bank/Nedbank and HSBC are joint bookrunners of the Securities and Exchange Commission-registered offering, and Absa is co-lead manager. Settlement is expected on Sept. 27.
The senior unsecured notes are non-callable and will redeemed at par at maturity.
The proceeds will be used to pay South Africa’s foreign currency commitments and for the general purposes of the government.
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