JSE-listed packaging company Nampak says funders have agreed to extend the date by which the company is required to reduce its net interest-bearing debt by R1-billion to April 1, 2023.
Nampak is expected to repay the R1-billion in debt following either strategic asset disposals or a combination of asset disposals and an equity capital raise.
Nampak notes that the extension will effectively align the debt reduction date with the maturity date of its revolving credit facility.