Listed-property clients can weather Covid-19 storm, says Nedbank

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The lender will condone covenant breaches only if real-estate businesses are servicing their debt obligations, an official says

Customers queue to draw money from an ATM outside a branch of First National Bank and Nedbank at a mall in Midrand outside Johannesburg. Picture: REUTERS/Siphiwe Sibekopressure from lockdown measures in SA.

The majority of its customers “have access to sufficienthighly stressed environment before requiring any form ofexecutive for the lender’s commercial property finance unit,A’s five biggest banks, is working with clientsis offering solutions on a case-by-case basis, includingThe lender will condone covenant breaches only if real-estateNone of Nedbank’s listed customers have asked for specificA retail-property sector is already battling to let ankeep the sector afloat.

 

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