Edition:
India

Tongaat Hulett Says Lenders Agreed To Make New Senior Term Loan Facilities


Monday, 18 Nov 2019 

Nov 18 (Reuters) - Tongaat Hulett Ltd ::RENEWAL OF CAUTIONARY AND FURTHER UPDATE ON GROUP PROCESSES.ENTERED INTO A DETAILED TERM SHEET WITH LENDERS.NEGOTIATIONS ON DEBT STANDSTILL IN MOZAMBIQUE CONTINUE TO PROCEED POSITIVELY.LENDERS AGREED TO MAKE NEW SENIOR TERM LOAN FACILITIES, SENIOR REVOLVING CREDIT FACILITIES AND OVERDRAFT FACILITIES AVAILABLE TO CO.ANTICIPATES RELEASING INFORMATION ON PWC'S KEY FINDINGS ON COMPANY'S WEBSITE ON FRIDAY 29 NOVEMBER 2019.APPOINTS DAN LESEJA MAROKANE AS AN EXECUTIVE DIRECTOR OF TONGAAT HULETT.PROGRESS CONTINUES IN IMPLEMENTATION OF TURNAROUND PLAN WHICH IS AIMED AT REDUCING COSTS AND RE-BASELINING CO'S COST BASIS.EMBARKED ON DISPOSAL OF CERTAIN NON-CORE ASSETS. 

Company Quote

1321.0
 --
9 Jun 2019