South Africa hires four banks to float two dollar bonds

JOHANNESBURG (Reuters) - South Africa's Treasury on Wednesday confirmed it had appointed four banks to offer 12-year and 30-year dollar-denominated bonds to international investors. Treasury said it would also be proposing a switch transaction, in which investors holding existing bonds maturing in 2019 and 2020 could either swap the bonds for cash or exchange them for the new 12-year tranche being proposed. The four banks were Barclays, HSBC, JP Morgan and Nedbank, it added. (Reporting by Mfuneko Toyana; Editing by Ed Cropley)