BRIEF-African Bank Investments provides update on payments of unsecured debt

Thu Aug 14, 2014 1:38am EDT

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Aug 14 (Reuters) - African Bank Investments Ltd

* Retail depositors will receive payment of interest and principal at contractual due dates. - curator

* Trade creditors arising in ordinary course of business prior to and during curatorship will be settled as usual. - curator

* Senior unsecured debt holders (wholesale depositors, bond holders, holders of physical or dematerialised debt instruments, wholesale bank deposits, and any other classes of senior unsecured debt) will not receive payment of interest or principal for duration of curatorship

* Rights of such senior unsecured debt holders, including for avoidance of doubt interest accruals, will remain intact

* Affected parties will be contacted as part of discussions on restructuring of african bank in due course. Source text for Eikon: Further company coverage:

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