CORRECTED-South Africa begins marketing dual-currency bond transaction

Fri Jul 18, 2014 8:22am EDT

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(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)