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In South Africa 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

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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 play 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

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.

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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