Nampak says lenders have relaxed debt covenants
The packaging manufacturer says it is at risk due to the weakening rand
30 March 2020 - 13:15
Nampak has agreed to new terms with lenders due to the threat posed by a weaker rand, which breached R18/$ for the first time on Monday.
Africa's largest diversified packaging manufacturer's net debt to earnings before interest, taxation, depreciation and amortisation (ebitda) has been relaxed to 3.5 times from three times, with effect for its six months to end-March, due to the threat of a weaker rand and delays from proceeds from recent sales of assets...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.