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EOH cuts loans to less than R1.4bn after sale in quest to lower debt

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Proceeds of R374m from sale of Information Services unit were used to pay down a loan facility repayable in 2023

EOH has lowered its borrowings to less than R1.4bn after a recent sale of certain business units as the group continues its march to reduce debt. The company has hinted at new capital-raising plans in the coming weeks as part of the effort.

In a note to investors on Friday, the technology group said its deleveraging strategy progressed with the disposal of its Information Services unit in June. Net proceeds of R374m from the sale were used to pay down a loan facility that is repayable in April 2023...

 

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