Press Releases & Interviews

Results of the Tender offer

14 November 2013

Johannesburg, South Africa -14 November 2013. Edcon Holdings Limited ("Edcon") today closed the offering of €425 million equivalent in aggregate principal amount of euro-denominated fixed rate senior notes due 2019 (the "Notes").

Edcon announced on 14 November 2013 that €262,465,000 in aggregate principal amount of its senior floating rate notes due 15 June 2015 (the "2015 Notes") had been validly tendered for purchase pursuant to a tender offer (the "Tender Offer") and that it would accept for purchase €262,465,000 in aggregate principal amount of the 2015 Notes validly tendered in accordance with the terms and conditions of the tender offer as set forth in the tender offer memorandum dated 6 November 2013. The purchase price for the 2015 Notes was 100.25%.

Edcon also announced that it would redeem all outstanding 2015 Notes that were not validly tendered and accepted for purchase pursuant to the Tender Offer (the "2015 Notes Redemption"). The redemption date for the 2015 Notes Redemption is 14 December 2013.

Edcon's repurchase of 2015 Notes tendered pursuant to the Tender Offer and the 2015 Notes Redemption were funded with the net proceeds from the offering of the Notes.

The Notes are being offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in accordance with Regulation S under the Securities Act.

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