Real People Investment Holdings Limited: REAL PEOPLE ENTERS INTO A DEBT STANDSTILL AGREEMENT WITH MAJORITY OF DEBT FUNDERS
(Thomson Reuters ONE) -
Real People advises that, as of today, 17 May 2017, it has entered into a debt
standstill agreement with approximately seventy percent of its senior unsecured
funders and one hundred percent of its subordinated debt funders ("the
participating funders"). The participating funders agreeing to the standstill
include all noteholders under the Issuer's South African Domestic Medium Term
Note program. The participating funders have agreed to a debt standstill to
assist the Issuer in restructuring its capital structure to resolve the capital
concerns highlighted in its most recent financial results and communicated via
releases over the past few months.
No interest or capital repayments will be made to the participating funders
whilst the standstill agreement remains in place. Further, the participating
funders have agreed not to take any enforcement action against the Issuer during
the standstill period, which expires on 31 August 2017 unless further extended.
The Issuer remains in discussion with the approximately thirty percent of
outstanding senior unsecured funders with whom agreement has not yet been
reached. The Issuer is hopeful of reaching agreement with these funders.
17 May 2017
RPIH Standstill Agreement Announcement- 17 May 2017:
http://hugin.info/173743/R/2105651/799206.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Real People Investment Holdings Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 17.05.2017 - 16:17 Uhr
Sprache: Deutsch
News-ID 543757
Anzahl Zeichen: 1918
contact information:
Town:
Rosebank
Kategorie:
Business News
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"Real People Investment Holdings Limited: REAL PEOPLE ENTERS INTO A DEBT STANDSTILL AGREEMENT WITH MAJORITY OF DEBT FUNDERS"
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