Debt Woes at South Africa's Eqstra Send Bonds Tumbling

  • Company has 1.67 billion rand of bonds due next 2 1/2 years
  • Total debt is more than eight times company's market value

Borrowing costs for South Africa’s Eqstra Holdings Ltd. climbed to a record in the two weeks since S&P Global Ratings cut the company’s credit rating, citing refinancing risks.

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