Pepkor raises R1.2bn in bond market

Source: Reuters/Sumaya Hisham

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 R7.1bn, it added.