CORRECTED-South Africa begins marketing dual-currency bond transaction
(Corrects Fitch rating in Thursday's story to BBB from BBB-)
By Abhinav Ramnarayan
LONDON, July 17 (IFR) - The Republic of South Africa has set initial guidance levels on a dual-tranche dual-currency SEC-registered bond transaction, according to a lead.
The sovereign, rated Baa1/BBB-/BBB, is marketing a 30-year US dollar tranche at 240bp area over US Treasuries and a 12-year euro tranche at mid-swaps plus 240bp area, the lead said.
Pricing is expected later today.
Barclays, Citigroup and Rand Merchant Bank are the bookrunners. Investec is a co-manager. (Reporting By Abhinav Ramnarayan, Editing by Helene Durand, Julian Baker)