Brait scrapes together cash for R6bn bond repayment
Bond is convertible but with the group’s stock down more than three quarters since issue, bondholders are unlikely to accept shares as payment
18 June 2019 - 19:33
Investment group Brait, in which billionaire Christo Wiese is the largest shareholder, is scraping together cash, mostly from its SA businesses, as a bond repayment of more than R6bn looms large in 2020.
The bond of £350m, issued when Brait was on an acquisition spree four years ago, is a convertible one, but with the group’s stock down more than three quarters since its issue, bondholders are unlikely to accept shares as payment...
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