JOHANNESBURG (Reuters) – Pepkor Holdings raised 1.2 billion rand ($66.14 million) in the South African bond market this week, the owner of South African clothing brands PEP and Ackermans said on Friday.
The company said in a statement that the bonds were 3.5 times oversubscribed at auction.
“Proceeds from the issuance will be used to replace existing programme funding and further strengthens the Group’s liquidity and debt repayment profile,” Pepkor said.
At 30 September 2022, Pepkor’s net debt amounted to 7.1 billion rand, it added.
($1 = 18.1445 rand)
(Reporting by Anait Miridzhanian; Editing by Alexander Winning)
