Diversified chemicals group Omnia, whose share price has lost almost two thirds of its value in 2019, said on Tuesday it remained focused on addressing its debt burden after stabilising the business in the six months to end-September.
The company said on Tuesday it was finalising a new debt package, including core facilities of R2bn, of which R250m is payable in two years, R750m in tree years, and R1bn after four years. At the end of September, net debt decreased to R3.3bn, from R4.65bn at the end of the prior comparative period. The company has a market capitalisation of about R5.1bn on Tuesday, though its debt burden exceeded its market capitalisation earlier in 2019.
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