Land Bank and lenders strive to find debt solution
Talks on debt restructuring continue on eve of March 31 deadline to repay Standard Chartered
31 March 2021 - 05:10
UPDATED 31 March 2021 - 10:21
The Land Bank, which is restructuring its more than R40bn debt, on Tuesday night met lenders over a solution before a March 31 deadline to meet a R400m court-ordered repayment.
The bank defaulted on debt repayments last April and was sued by Standard Chartered, which a court said must be repaid by end-March. Other lenders, which chose not to sue and entered restructuring talks, had hoped for a liability solution before the repayment deadline...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.