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South Africa launches $2 billion notes due 2025 at 315 bps spread
By Christine Van Dusen
Atlanta, Sept. 9 - South Africa launched a $2 billion issue of notes due in 2025 (Baa1/BBB/BBB) to yield Treasuries plus 315 basis points, a market source said.
The notes were talked at a spread in the 330 bps area.
Deutsche Bank Securities Inc., Rand Merchant Bank and Standard Bank plc were the joint leads for the Securities and Exchange Commission-registered transaction. Investec Bank plc was the co-lead manager.
The proceeds will be used to repay maturing debt and for general corporate purposes.
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