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Edcon’s bondholders accept debt exchange proposal

Bloomberg reports that 97.3% of the holders of Edcon’s $469 million 2019 bonds have accepted an exchange offer as part of the South African retailer’s steps to improve its liquidity and restructure its balance sheet. Edcon, one of Bain Capital’s portfolio holdings, was acquired by the US private equity firm in 2007 in a $2 billion deal.

Read more at Bloomberg…

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