Rebosis Property Fund gets another lifeline from creditors
Real estate company is trying to pay interest on its heavy debt burden
29 March 2020 - 22:03
Rebosis, a debt-laden shopping mall owner, is getting a helping hand from creditors as a nationwide lockdown to contain the spread of novel coronavirus puts strain on its rental income.
The company, which is headed by founder CEO Sisa Ngebulana, said on Friday lenders have agreed to extend maturities on expiring debt until the end of August, giving it a brief reprieve as smaller tenants at its shopping malls close shop for next three weeks to comply with the restrictions...
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