Transnet has already received a reprieve on a portion of its debt totalling R7bn, which was due for repayment on 6 November 2023. The company asked lenders to roll it over to a later period.
In finance lingo, Transnet “refinanced” the debt that became due for repayment in early November, meaning that it applied for new debt and used it to replace existing/outstanding debt while negotiating new repayment terms.
Read the full article by Ray Mahlaka at Daily Maverick.
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