Pepkor raises R1.2bn in bond market

Pepkor Holdings raised R1.2bn in the South African bond market this week, the owner of South African clothing brands Pep and Ackermans said on Friday, 3 March.

By Anait Miridzhanian

3 Mar 2023

Source: Reuters/Sumaya Hisham

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.

About Anait Miridzhanian

Reporting by Anait Miridzhanian; Editing by Alexander Winning

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