Transnet goes to international debt market
Business Live - Jul 4th 2012, 08:37
Transnet will go to the international debt market before the end of March to raise capital for its R300bn capital expenditure programme, Transnet CEO Brian Molefe said on Thursday.
A minimum “benchmark” issue of $500m would need to be issued to ensure the liquidity and tradability of the bonds, Mr Molefe said, adding that the upper limit of the issue would be $1,5bn.
The parastatal boss declined to say when the company would go to the debt markets and said it would make its decision “opportunistically” in order to secure the cheapest rates, he said.
The rail and ports company will be investing R300bn in expanding its capacity under a new seven-year programme dubbed the market demand strategy.
The investment schedule will triple the size of the company and raise revenue by 152% to R128bn, through increased general freight and bulk commodity volumes.
More than two thirds of the market demand strategy budget will be spent on rail and rail-related infrastructure.
The strategy forms part of the state’s efforts to catch up on infrastructure backlog, which have limited the country’s ability to export commodities such as coal and iron ore at a time when prices have soared on demand from China and India.
DionWired unveils multichannel retailing to meet shopping trends
05/12/2013 - 15:33
DionWired has embraced the multichannel retail concept with the launch of its brand new website, which was developed to give consumers a highly positive, symmetrical shopping experience between the web and the brick-and-mortar stores.
Double blow for Adcock suitor
03/12/2013 - 08:00
Johannesburg - A Chilean group's $1.2bn (R12.6bn) bid for drugmaker Adcock Ingram [JSE:AIP] was challenged on two fronts on Monday, as a group led by Bidvest [JSE:BVT] sought nearly a third of Adcock's shares and launched a court action against the bid.
Pick n Pay opens two premium stores as part of six month plan to open 64 stores
29/11/2013 - 10:27
After an improved performance at the half year, Pick n Pay is demonstrating its commitment to pursuing positive growth through focused, streamlined operations and an expanding store footprint, with plans to open over 60 new stores in the six months to end February 2014.
Zambia’s food security position is very strong
20/11/2013 - 10:50
Agriculture and Livestock Minister Bob Sichinga has disclosed that Zambia was on a strong position in terms of food security in the African region.
Manufacturing confidence low
15/11/2013 - 08:12
Business confidence in the manufacturing sector was weak in the third quarter of this year, according to a Manufacturing Circle survey.