Lenders have agreed to hold off their claims on a portion of Transnet’s R127.7bn debt after auditors found technical problems when they signed off its financial results, acting CFO Mark Gregg-MacDonald says.
Transnet has been in talks with lenders to waive their rights under a clause in loan agreements that states that a qualified audit opinion, which generally means the auditor has found minor problems with its books but is still broadly vouching for them, would trigger a technical default and call for immediate repayment of the debt...
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