Accelerate gets a break as lenders agree to rollover
Property group gets an 18-month extension on debt due in September 2022, greatly reducing its short-term obligations
24 November 2021 - 14:54
Accelerate Property Fund, which owns half of Fourways Mall, the largest shopping centre in Africa, said on Wednesday its main funders had agreed to roll over debt due in September 2002, giving the debt-laden group some much-needed breathing space.
The lenders agreed to extend the amounts owing for at least 18 months, which will see the short-term portion of Accelerate’s debt decline R367.5m from R1.6bn...
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