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South Africa’s Liquid Telecom offering $600 million five-year bonds
By Colin Hanner
Chicago, July 6 – Liquid Telecommunications Holdings Ltd. is offering $600 million of five-year senior secured bonds (expected: Ba3//B+), a market source said.
Citibank, Standard Chartered and Standard Bank are joint lead managers and bookrunners for the Rule 144A and Regulation S deal.
The bonds are non-callable for three years.
The offering comes after a roadshow that took place during the week of June 23.
Proceeds from the issuance will be used to refinance existing debt and for other general corporate purposes.
Liquid Telecommunications is a subsidiary of Econet Wireless International Ltd., a Johannesburg, South Africa-based telecommunications company.
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