SAA’s planned R1.5 billion debut bond issuance will be backed by a government guarantee. The sale is planned for March to take advantage of near record low yields.
Because SAA has already borrowed R1.3bn against a R1.5bn government guarantee earmarked for short-term operational expenses, the Finance Minister Pravin Gordhan has demand the airline demonstrate the money was needed for longer-term initiatives under its turnaround strategy.
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