SA to issue out first dollar-based bonds in nine month
Posted by Business Report on 4 July 2014
By Robert Brand and Mike Cohen
South Africa is returning to the international bond market for the first time in nine months as investors put the nation's longest mining strike and a sovereign downgrade behind them. Rand Merchant Bank, Barclays and Citigroup would manage the sale, which would be the equivalent of about $1.5 billion (R16bn), the Treasury said on Wednesday.
Average yields on South African dollar bonds fell to 23 basis points below the emerging market average, after investors demanded a premium for almost half of last month, according to JPMorgan Chase indices.
Continue reading here: http://www.iol.co.za/business/news/sa-to-issue-first-dollar-based-bonds-in-nine-months-1.1714012#.U7uUrfmSwlR