Murray & Roberts (M&R) on Monday told investors it had secured R250m in credit and post-commencement finance from capital markets, indicating strong support from the financial markets as the group tries to get back on its feet.
The post-commencement finance funding of R130m is set to help M&R stay afloat by providing capital for operations and restructuring. This is after its subsidiaries, M&R and OptiPower units were placed in business rescue on November 22 (https://www.businesslive.co.za/bd/companies/industrials/2024-11-22-murray-roberts-suspends-trading-of-shares-as-division-enters-business-rescue/) to deal with various issues including a lack of liquidity, and business rescue practitioners were appointed...
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