South Africa's Edcon to price €400 million equivalent seven-year secured notes in Feb. 21 week

By Paul A. Harris

Portland, Ore., Feb. 16 - South Africa's Edcon Pty. Ltd. plans to price €400 million equivalent of seven-year senior secured notes during the week ahead, according to an informed source.

The notes are expected to be offered in dollar and euro denominations.

Goldman Sachs & Co. and Deutsche Bank are the global coordinators and joint bookrunners. Barclays Capital and Morgan Stanley are joint bookrunners.

The notes come with three years of call protection.

Credit ratings remain to be determined.

The Johannesburg-based dry goods retailer plans to use the proceeds to refinance existing debt and for hedging obligations.

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