South Africa's Treasury on Wednesday confirmed it had appointed four banks to offer 12-year and 30-year dollar-denominated bonds to international investors.
Government hires four banks to float two dollar bonds
The four banks were Barclays, HSBC, JP Morgan and Nedbank. Treasury said it would also be proposing a switch transaction
South Africa President Jacob Zuma addresses the United Nations General Assembly in the Manhattan borough of New York, U.S. September 20, 2016. REUTERS/Eduardo Munoz
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![Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]")
Treasury said it would also be proposing a switch transaction, in which investors holding existing bonds maturing in 2019 and 2020 could either swap the bonds for cash or exchange them for the new 12-year tranche being proposed.
The four banks were Barclays, HSBC, JP Morgan and Nedbank, it added.
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