‘Critical milestone’ as Nampak finalises most of its debt refinancing with lenders
Nampak has successfully finalised refinancing agreements with most of its lenders to escape from an unsustainable debt pile. As part of its #BusinessTurnaround strategy, the group is also pressing ahead with numerous asset disposals over the next 18 months and undertaking a rights issue at the end of August to raise about R1 billion. The net result is a more focused, better-capitalised business with improved profitability and lower net investment in operating assets, the company says.