Transnet faces debt repayment of over R1bn in February
Refinancing by issuing new bonds will come at a higher cost, but Transnet says it has a plan
14 December 2022 - 18:42
Transnet, the state-owned port and rail operator, is facing two bond repayments coming due in the next two months that are worth a combined R1.088bn.
The total amount relates to R556m in bonds maturing on February 7 2023 and another R532m of debt instruments that are due to be repaid on February 13, according to Bloomberg data. While Transnet should have no trouble rolling the debt — a term that denotes refinancing the securities by issuing new bonds — the company will face higher repayment costs on any new instruments given that interest rates have risen dramatically over the past year...
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