Rebosis to sell assets to reduce debt
Property fund is saddled with liabilities of R10bn
Sisa Ngebulana, founder and CEO of Rebosis Property Fund, says his company plans to sell assets to help trim its almost R10bn debt load.
Rebosis’s loan-to-value (LTV), which measures the ratio of loans to the value of assets, has rocketed to more than 71%, from 49.4% at the end of November 2018. Fund managers tend to regard an LTV of less than 40% as acceptable.