PPC Gets Banks to Back 4 Billion-Rand Share Sale to InvestorsBy
Lenders to underwrite rights offer as bonds face redemption
CEO Castle says pacts pave way to resolve capital structure
PPC Ltd., South Africa’s largest publicly traded cement maker, said it received 4 billion rand ($263 million) of bank guarantees to underwrite the sale of shares to existing investors, adding to facilities it received last week to redeem bonds.
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