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Debt restructure to dilute Bain’s equity stake in Edcon

Reuters reports that Bain Capital could dilute its stake Edcon to about 55% in the event that all the 2019 noteholders select to convert their current holding into a combination of debt and equity as part of the debt restructure the South African retailer is undertaking.  Edcon would not say how many bondholders had opted to take equity as part of the deal, but said an announcement would be made at the end of July. 

Read more at Reuters…

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