ZAR 10 billion
$ 623.583 million
Completed
16/3/2016
John Crabb - Journalist
African Bank restructure sets workout precedent
IFLR managing editor Tom Young looks at the deal in more detail, include key takeaways
South Africa
Restructuring
Financial restructuring
Banking
Restructuring and insolvency
Banking
Party: IFC (Subordinated Lender)
Party: Proparco (Subordinated Lender)
Party: DEG - Deutsche Investitions- und Entwicklungsgesellschaft (Subordinated Lender)
Party: African Bank (Debtor)
Party: Nedbank (Investor)
Party: Absa Bank (Investor)
Party: FirstRand (Investor)
Party: Investec (Investor)
Party: Standard Bank of South Africa (Investor)
Party: Capitec (Investor)
Party: Public Investment Corporation (Investor)
Party: PricewaterhouseCoopers (PwC) (Curator)
Lawyers: Martin Versfeld, Martin Versfeld