Consol Ltd., South Africa“s largest glass packaging company, has launched plans to issue ZAR 4 billion (EUR 433 million) equivalent of EUR-denominated bonds to finance its leveraged buyout, one lead …
Consol Ltd., South Africa“s largest glass packaging company, has launched plans to issue ZAR 4 billion (EUR 433 million) equivalent of EUR-denominated bonds to finance its leveraged buyout, one lead manager said 21 March 2007. Brait Private Equity, South Africa“s largest private equity fund manager, bought Consol in a deal valuing the company at ZAR 6.16 billion. South African antitrust authorities approved the takeover in March 2007 after Consol“s shareholders voted in favor of the acquisition in February. Citigroup and JPMorgan are leading the bond sale. The issuer will be Consol Glass (Proprietary) Ltd. The senior secured notes will be due in 2014 and be non callable for three years.