JSE-listed Tongaat Hulett has completed the refinancing of its existing South African debt facilities, including its remaining term debt, working capital facilities, a revolving credit facility and overdraft facilities. With the support of the South African lenders, the maturity of the existing senior debt facilities was extended to cater for the completion of the debt refinance, the terms of which have been revised from those agreed in a term sheet on June 12, owing to the impact on liquidity from operational challenges and the social unrest in KwaZulu-Natal.
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