Land Bank asks for R22bn injection from the state
Request comes days after state arms maker Denel and Airports Company SA ask for help
20 May 2020 - 11:52
The Land Bank has become the latest state-owned entity (SOE) to hold out a begging bowl after the lender to farmers asked for a R22bn cash injection to plug holes in its balance sheet.
The Land Bank, which skipped payments on some of its debt in April, triggering a cross default on bonds worth R50bn, has been trying to get money after lenders refused to saddle it with more debt and roll over maturing loans...
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