SOUTH AFRICA: A R2·8bn loan agreement was signed by freight operator Transnet and Germany’s KfW Development Bank on June 22.
Transnet is to use the proceeds to fund the acquisition of 240 Bombardier Transportation electric locomotives it has ordered as part of its programme to acquire 1 064 locomotives from four suppliers.
The loan matures in 15 years, with a five-year interest-only grace period. The agreement was negotiated in rand terms and thus has no currency risk for Transnet.
SOUTH AFRICA: State-owned freight transport company Transnet signed a R30bn loan agreement with China Development Bank on the sidelines of the World Economic Forum in Cape Town on June 4. The loan is part of a bilateral memorandum of understanding signed by the two countries’ presidents last December. The proceeds ...
SOUTH AFRICA: On March 2 national freight operator Transnet issued an update on the contracts for the supply of 1 064 locomotives which it awarded in March 2014, and announced financing packages worth R13bn for the locos to be supplied by GE and Bombardier. Transnet Group CEO Brian Molefe said ...
SOUTH AFRICA: Freight operator Transnet has secured a R6bn guarantee from the USA’s export credit agency to support the financing of 293 diesel locomotives which GE is to supply, including an order for 233 announced in March. Transnet said the Ex-Im Bank guarantee announced on August 6 would enable it ...
