South Africa’s Transnet deal trundles into Q1 2011
State owned South African freight logistics operator Transnet’s $500m seven year ‘B’ loan will be signed in the first quarter of 2011, according to a banker close to the deal.
Several commitments have been received and the borrower expects to reach the $500m target. But delays in the credit approval process and the combination of Christmas, new year and summer holidays in South Africa have pushed back the deadline. The deal is the first ‘A/B’ structured loan arranged
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