Metair approves capital restructuring plan to refinance debt

Metair Investments Limited (JSE:MTA) announced on March 12, 2025, that its board and lenders approved a capital restructuring plan to refinance its debt. The plan addresses Metair's net debt, which stood at approximately R4 billion as of December 31, 2024. Lenders have agreed in principle to refinance Metair's current gross debt obligation through two packages: R1.377 billion for Hesto Obligor to refinance existing facilities and repay a loan to Yazaki Corporation, and R3.3 billion for remaining South African subsidiaries (SA Obligor), refinanced through senior debt and a Mezzanine Instrument repayable by June 30, 2027. The restructuring allows for a repayment profile matching expected earnings growth over five years. Further details will be available in the Company's annual results and 2024 Integrated Annual Report, expected around March 26, 2025.