Transnet will use the loan to fund its expansion projects and refinance existing debt, it said in a statement late on Tuesday.on with a group of international lenders led by Deutsche Bank AG in its biggest funding transaction in seven years.
Poor maintenance, a lack of spare parts for trains, copper cable theft and vandalism have disrupted Transnet's freight rail services.In April, Transnet declared force majeure, saying its capacity to provide services to mineral exporters was constrained by a lack of locomotives, large-scale theft of copper cables and vandalism of infrastructure.
Transnet will use the loan to fund its expansion projects and refinance existing debt, it said in a statement late on Tuesday. “This is a significant milestone to stabilise Transnet's liquidity position in support of our financial sustainability,” Transnet's Group Chief Financial Officer Nonkululeko Dlamini said.Africa Finance Corporation, African Export-Import Bank and Bahrain-headquartered Ahli United Bank were involved in the syndicated loan transaction alongside Deutsche Bank.
Last week, Transnet issued a veiled threat to coal exporters who had not agreed to amend transportation contracts, following its declaration of force majeure in April. )
Loan for what? Mara Ramaphosa le Pravin 🤷🏻♂️
Smh
If they fail to pay their account will be expropriated without compensation, privatization loading
Gone. Captured.
More money to loot
💀
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Transnet signs loan deal with international banks worth over R25bnTransnet says it will use the loan to fund its expansion projects and refinance existing debt Some months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Mike_Rosehart I was able to earn R130,000 now am financially stable. ANC connected business individuals are lining themselves up for the taking,as is the usual case,and a commission of inquiry will later be established to probe how much did each individual siphon off from the proceedings! Here we go again. Looting continua
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