The South African maker of Nola mayonnaise and Ouma rusks, Foodcorp is seeking to raise about $567.4 million in a sale of seven-year notes, Bloomberg reports. JPMorgan Chase and Barclays Capital are arranging the sale. Foodcorp appointed North Sea Partners as financial advisor. The company will use the net proceeds to settle existing hedging arrangements and finance repurchases or redemptions of securities issued by its parent company.

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