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Edcon’s falling bond price signals distress

Image Credit: Robbie Tshabalala

The price of Bain Capital-backed Edcon’s debt declined to record lows last week, increasing the chances that the company may become a target for distressed-debt buyers.  The company’s 425 million euros of junior bonds have slipped to 22 cents on the euro last week from 38 cents at the beginning of the year, according to data from Bloomberg. 

Read more at Bloomberg…

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