Pepkor in talks with banks about new debt terms
Reducing debt remains its objective even if it does not take place quickly, CFO says
27 May 2020 - 20:44
Pepkor will miss its debt reduction targets due to the coronavirus-induced economic contagion, the latest company showing signs of distress as it stares down the barrel of one of the deepest economic downturns in recent memory.
Pepkor has R14.1bn in net debt, putting its net debt to core earnings — or earnings before interest, taxes, depreciation, and amortisation (ebitda) — ratio at 1.7 times, well above its three-year target of one times...
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