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South Africa expected to price $1 billion bonds Tuesday, price talk plus 200 bps
By Paul A. Harris
St. Louis, May 24 - Price talk in the area of plus 200 basis points emerged Monday on the Republic of South Africa's benchmark-sized offering of 10-year bonds (Baa2/BBB), according to an informed source.
The deal is expected to price on Tuesday.
Market sources said that the rumored size of South Africa's deal is $1 billion.
Barclays Capital and JP Morgan are the bookrunners for the off-the-shelf offering. Rand Merchant Bank is the co-manager.
Proceeds will be used for general corporate purposes.
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