Murray & Roberts makes headway with debt-reduction plans
The firm intends to refinance the remaining SA debt held with a consortium of banks by June 2024
The shares of Murray & Roberts (M&R) gained the most in more than eight months on Friday after it said “meaningful progress” was being made to reduce the group’s debt with a consortium of SA banks.
The Johannesburg-based engineering and construction group said its Cementation Canada business had recently secured a renewed banking facility with a Canadian bank that would allow it to pay C$40m (R557.4m) in dividends to M&R over the six months to June 2024...
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