African Bank obtains R8bn support deal from shareholders
Financing agreement will help it in reestablishing itself as a reliable party in wholesale funding market
07 September 2020 - 09:29
African Bank, the entity that arose from one of SA’s biggest banking collapses, has entered into an up to R8bn support programme with shareholders as it seeks to manage its finances and enter SA’s funding market.
Shareholders including SA’s largest banks and the Reserve Bank have undertaken to support bond issuances by African Bank over three years and four months, commencing in December, and in proportion to their current shareholdings...
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