REAL PEOPLE INV HOLDINGS LIMITED - Enters into a Debt Standstill Agreement with Noteholders - RP014/RPS001/RPS002
RP014 RPS002 RPS001 201705170052A
Enters into a Debt Standstill Agreement with Noteholders - RP014/RPS001/RPS002
Real People Investment Holdings Limited
Incorporated in the Republic of South Africa)
(Registration No. 1999/020093/06)
Bond Issuer Code: BIRP
(“Real People” or “the Issuer”)
REAL PEOPLE ENTERS INTO A DEBT STANDSTILL AGREEMENT WITH NOTEHOLDERS
Real People advises that, as of today, 17 May 2017, it has entered into a debt standstill agreement with
approximately seventy percent of its senior unsecured funders and one hundred percent of its subordinated
debt funders (“the participating funders”). The participating funders agreeing to the standstill include all
noteholders under the Issuer’s South African Domestic Medium Term Note program. The participating funders
have agreed to a debt standstill to assist the Issuer in restructuring its capital structure to resolve the capital
concerns highlighted in its most recent financial results and communicated via various SENS announcements
over the past few months.
No interest or capital repayments will be made to the participating funders whilst the standstill agreement
remains in place. Further, the participating funders have agreed not to take any enforcement action against the
Issuer during the standstill period, which expires on 31 August 2017 unless further extended.
The Issuer remains in discussion with approximately thirty percent of the outstanding senior unsecured funders
with whom agreement has not yet been reached. The Issuer is hopeful of reaching agreement with these
funders.
17 May 2017
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 17/05/2017 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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