Lenders extend new credit lines to Tongaat

South Africa News News

Lenders extend new credit lines to Tongaat
South Africa Latest News,South Africa Headlines
  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Company’s creditors agree to make new loan, revolving credit and overdraft facilities available

Tambankulu Estate, sugar fields which are part of Tongaat-Hulett, located in Swaziland. Picture:SUPPLIED

“The new SA facilities will be used primarily to refinance amounts owing to the SA lenders under existing facilities and to fund general corporate and working capital requirements,” Tongaat Hulett said in a statement on Monday. In terms of the latest agreement, there are specific timelines within which repayments must be made on the debt owing to the lenders and contemplates that the company will fund these repayments out of asset disposals and equity capital raisings.

Tongaat expects to release its restated audited consolidated financial statements for the year to March 2018 as well as the audited consolidated financial statements for the year to March 2019 in the week of December 9.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lenders extend new credit lines to TongaatCompany’s creditors agree to make new loan, revolving credit and overdraft facilities available
Read more »

KZN woman bludgeoned to death in front of teenage granddaughterA 13-year-old girl described to police how she saw her grandmother being bludgeoned to death by an unknown man in Tongaat, north of Durban, on Monday.
Read more »

KZN teenager witnesses granny being bludgeoned to deathA 13-year-old girl described to police how she saw her grandmother being bludgeoned to death by an unknown man in Tongaat, north of Durban, on Monday.
Read more »

Tongaat offloads Namibian company to BokomoSelling sugar packaging and distribution business is part of a drive to ditch noncore assets in line with ongoing strategic and financial review
Read more »

Tongaat grandmother found bludgeoned to death | The PostTongaat grandmother found bludgeoned to death | The PostAccording to Prem Balram from Reaction Unit SA, it was the woman's teenage granddaughter who made the discovery.
Read more »

How to hit the jackpot on Black Friday without ending up in the redConsumer credit agency TransUnion has warned shoppers against excessive spending on Black Friday
Read more »



Render Time: 2025-02-09 02:28:16