Commentary & Deal Flow

The Bidvest Group Limited (“Bidvest”), a leading B2B services, trading and distribution group listed on the Johannesburg Stock Exchange, rated Ba2 (Negative outlook) by Moody’s and expected to be rated BB (Stable outlook) by Fitch, has mandated BofA Securities, Barclays, BNP Paribas, Citi, alongside Absa, Rand Merchant Bank and Standard Bank as Joint Bookrunners to arrange a Global Investor Call at 14:00 UK / 9:00 NY on Monday, 13 September 2021, and a series of fixed income investor calls commencing on the same day. An inaugural US$-denominated Reg S / 144A senior unsecured benchmark offering with 5NC2 maturity is expected to follow, subject to market conditions. The Notes, issued by The Bidvest Group (UK) Plc, will be guaranteed by its parent Bidvest and are expected to be rated Ba2 by Moody’s and BB by Fitch. FCA/ICMA stabilisation applies.