Exclusive: South Africa’s Transnet in critical loan talks

Exclusive: South Africa’s Transnet in critical loan talks

The ScoopSouth Africa’s state-owned freight company Transnet is asking lenders to relax financial tests on loans as it prepares to roll over $200 million-plus in debt in planned refinancing this year, it told Semafor.The move would offer government sovereign guarantees to replace some commercial safeguards — “loan covenants” in corporate finance parlance — jacking up fiscal exposure and raising fresh questions about whether the company’s liquidi…