M&R reaches debt repayment agreement with banking consortium

JSE-listed Murray & Roberts (M&R) has reached an agreement with a consortium of South African banks to repay R409-million in debt. The debt, which peaked at about R2-billion in April 2023, has been significantly reduced through a deleveraging plan agreed upon by the company and the consortium. A credit-approved term sheet has now been signed, which provides for the remaining debt to be repaid by January 31, 2026.