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South Africa's EdCon sets talk at 97 area for €325 million 9½% notes due 2018
By Christine Van Dusen
Atlanta, Feb. 8 - South Africa's EdCon Pty. Ltd. set price talk at the 97 area for a €325 million offering of 9½% notes due in 2018, a market source said.
The company scrapped plans for a $200 million issue of notes due in 2018, also talked at the 97 area.
Barclays, Goldman Sachs, Morgan Stanley, BofA Merrill Lynch and JPMorgan are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to finance the repurchase of the company's floating-rate notes due in 2014.
EdCon is a retail company based in Johannesburg.
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