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TSOGO SUN GAMING LIMITED - Voluntary announcement - Funding update

Release Date: 25/03/2020 16:09
Code(s): TSG     PDF:  
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Voluntary announcement - Funding update

Tsogo Sun Gaming Limited
Incorporated in the Republic of South Africa
(Registration number 1989/002108/06)
Share code: TSG
ISIN: ZAE000273116
(“Tsogo Sun Gaming” or “the Company” or “the Group”)


Further to the announcement released by the Group on the Stock Exchange News Services of the JSE
Ltd. on 21 November 2019 relating to the Condensed unaudited consolidated interim financial
results for the six months ended 30 September 2019, in which the Group stated that with was in the
process of refinancing its debt which should have a positive impact on finance cost, we confirm that
the financing was completed earlier this quarter.

The facilities are a combination of new term loans from banking institutions and a Domestic Medium
Term Note programme. The facilities range from committed overnight facilities to tenors of up to
seven years with the majority of the maturities in the three to five year period.

The funding covenants on the new facilities remained the same as the previous facilities at a
debt:ebitda ratio of less than 3.0 times and an interest cover ratio of greater than 3.0 times. A loan
to value ratio of less than 40% was included as an additional covenant.

25 March 2020

JSE Equity Sponsors
Tsogo Sun Gaming: Investec Bank Limited

Date: 25-03-2020 04:09:00
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