Edcon €425 million senior note exchange offer

29/7/2015

Bond/note exchange offer

Value:

€ 425 million

Dollar value:

$ 464.5 million

Status:

Completed

Date:

29/7/2015

Overview:

Edcon Holding launched an offer to exchange $425 million 13.375% senior notes due 2019, for holders of its €378 million of its previously issued senior notes that were due for redemption in 2015.
Edcon's annual net interest payment decreased by more than €72 million.

Rani Mehta - Journalist

Jurisdictions:

South Africa
Ireland

Deal type:

Bond/note exchange offer

Practice area:

Capital markets : Debt

Governing laws:

New York
England and Wales
South Africa

Industry sector:

Consumer goods and services

Firms:

ENSafrica

Party: Edcon (Issuer)

Lawyer: Clinton van Loggerenberg

Kirkland & Ellis

Party: Edcon (Issuer)

Lawyer: Cedric Van den Borren

Werksmans Attorneys

Party: Goldman Sachs (Underwriter)

Lawyers: Astrid Berman, Tracy-Lee Janse Van Rensburg

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