Bailout Terms Delay Debt Deal for Defaulted South African Bank


Livestock Farming As Legal Battle Looms Over South Africa's Land-Seizure Plans

Photographer: Waldo Swiegers/Bloomberg

South Africa’s largest lender to farmers has delayed a debt restructuring deal with creditors because of conditions attached to a government bailout, forcing it to repay what it owes to Standard Chartered Plc.

Land & Agricultural Development Bank said on Wednesday that a March 31 deadline to reach an agreement won’t be met. The government’s 7 billion rand ($474…



Source link

ACM
About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free