Pepkor raises R2.2bn in oversubscribed bond auction
The owner of Pep, Ackermans and Incredible Connection will use the money to pay medium-term debt to improve its liquidity
04 May 2021 - 19:00
Pepkor Holdings, owner of Pep, Ackermans and Incredible Connection, has raised R2.2bn in a bond auction as it seeks to diversify its sources of funding and reduce borrowing costs.
The money will be used to pay medium-term debt due in 2022, which will improve the company’s liquidity and debt profile. ..
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