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S.Africa's Land Bank misses March 31 deadline to conclude debt restructuring plan

Wed, 31st Mar 2021 10:00

JOHANNESBURG, March 31 (Reuters) - South African
cash-strapped Land and Agricultural Development Bank missed a
March 31 deadline to conclude a debt restructuring plan with
lenders, the state-owned company said on Wednesday.

"This date is not going to be met due to the need for the
bank and its lenders / funders to incorporate a material change
in the previous version of the liability solution," the Land
Bank said in a statement.
(Reporting by Mfuneko Toyana, editing by Louise Heavens)

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