(Reuters) - South Africa's Edgars Consolidated Stores (Edcon) has scrapped plans for a fixed-rate note issue and is offering higher yields on floating-rate notes it is selling due to market volatility, an official at one of the banks managing the sale said on Friday.
The clothing and fashion retailer now plans to sell 1.18 billion euros of 7-year senior secured FRNs yielding 325 basis points over Euribor, the official said, versus guidance on Thursday of 275-300 basis points over.
Read more at Reuters Africa
The clothing and fashion retailer now plans to sell 1.18 billion euros of 7-year senior secured FRNs yielding 325 basis points over Euribor, the official said, versus guidance on Thursday of 275-300 basis points over.
Read more at Reuters Africa
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