(Bloomberg) -- Bond issuance by South African companies reached a record in the third quarter, with 49.3 billion rand ($3.6 billion) of sales. Borrowers are rushing to lock in relatively low costs before Moody's Investors Service and S&P Global Ratings review the country's credit assessments in November, with banks selling more than half of the debt.
To contact the reporter on this story: Colleen Goko in Johannesburg at cgoko2@bloomberg.net.
To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net, Robert Brand
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