African Bank: debt holders can transfer to new “good bank”

Failed South African lender African Bank will offer senior debt holders the chance to exchange old bonds for bond instruments to be created in a new "good bank", curators said on Wednesday.
Published on

JOHANNESBURG (Reuters) – Failed South African lender African Bank will offer senior debt holders the chance to exchange old bonds for bond instruments to be created in a new "good bank", curators said on Wednesday.

African Bank collapsed under a mountain of bad debt in August, forcing the government to appoint curators to oversee its restructuring.

Related Stories

No stories found.
BizNews
www.biznews.com