South Africa's Edcon to price €400 million 5.5-year notes this week

By Paul A. Harris

Portland, Ore., Nov. 6 - Edcon Holdings Ltd. plans to price a €400 million offering of 5.5-year notes (expected ratings Caa2/CCC) this week, according to a market source.

A global investor call was scheduled to take place on Wednesday.

Joint global coordinator JPMorgan will bill and deliver. BofA Merrill Lynch is also a joint global coordinator. Barclays, Goldman Sachs, RMB and Morgan Stanley are joint bookrunners.

The Rule 144A and Regulation S for life notes come with 1.5 years of call protection.

Proceeds will be used to refinance the senior notes maturing in 2015.

Edcon is a South African non-food retailer.

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