New Issue: South Africa's Consol sells €420 million seven-year notes at 7 5/8%

By Reshmi Basu

New York, March 27 - South African glass maker Consol Glass priced a €420 million offering of seven-year secured notes at par to yield 7 5/8%, according to a market source.

Proceeds from the sale will be used to fund its buyout by private equity group Brait SA.

Citigroup and JP Morgan led the sale of senior secured notes.

Issuer:	Consol Glass (Proprietary) Ltd.
Amount:	€420 million
Issue:	Senior secured notes
Maturity:	April 2014
Coupon:	7 5/8%
Issue price:	Par
Yield:	7 5/8%
Lead managers:	Citigroup, JP Morgan
Pricing date:	March 27

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