SAA have possibly defaulted on billions in loans
Reports today that Standard Chartered Bank has declined to renew their loan facilities to SAA and that repayment of these loans has been demanded, may only be the tip of the iceberg.
According to a repayment schedule, SAA has listed R 8,887 billion repayable in 2017/18, yet some of the maturity dates have in fact past.
Key dates that have already past include:
- R0.3 billion due to STANDARD BANK on 30 December 2016;
- R1 billion to STANDARD BANK on 30 December 2016;