|
|
Stefstock - facility agreement with Standard bank
As reported in numerous SENS announcements, shareholders have been updated on the progress made in terms of the Restructuring Plan. As previously communicated, the group reached an agreement with its current lenders (the Lenders) to extend the capital repayment profile of the current loan, as well as its duration to 30 June 2026.
Shareholders were hereby advised that the group's primary operating subsidiary, Stefanutti Stocks (Pty) Ltd., has successfully concluded a new ZAR850 million 5-year term facility agreement (the Facility) with The Standard Bank of South Africa Ltd., acting through its Corporate and Investment Banking Division (Standard Bank). The Facility will be utilised in full to immediately settle the current loan with the Lenders, thereby terminating the historic arrangement with the Lenders including the requirement for the Restructuring Plan and consequently, the group will no longer be reporting in terms thereof.
The Facility has been secured on favourable and market-related terms.
|
|
Click here for original article
|
| |
| |
| Click here for full news archive for this company |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
