Ascendis Health has pushed back payment on its debt facilities until the end of 2021, buying it an additional 18 months to sell off businesses to address a debt pile more than 10 times its market capitalisation.

The group’s lenders had been “extremely supportive” in giving Ascendis the space it needs to stabilise operations and prepare assets for sale at the right price, said CEO Mark Sardi. The group still intends to put Remedica up for sale later in 2020, but now has space to ensure its assets are ready for sale.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now