Based on improved operating results, JSE-listed Nampak’s lenders have been requested to reassess a requirement to reduce its net interest-bearing debt by R1-billion by September 30.
The funders have agreed to extend the date by which the company is required to deliver to funders duly executed sale and purchase agreements in relation to each asset disposal, in form and substance satisfactory to the funders, from June 30 to August 31 to do the reassessment.
As reported in May, Nampak group’s debt funders required a R1-billion reduction of interest-bearing debt by September 30, either through strategic asset disposals or a combination of asset disposals and an equity capital raise.