Kenyan Wall Street | by Mwakaneno Gakweli
TransCentury Limited has announced that it has cut its commercial bank debt by 40%.
A company update says the reduced debt service has allowed the redirection of the cash to production.
Efforts to cut its debt are part of the company’s 4-step turn around strategy which entails delivering a robust and fundable order book, debt reprofiling to match cashflows, fundraising and order book execution.
TransCentury Company Secretary Virginia Ndunge says the Group also reprofiled 90% of its debt, pushing debt tenure to…
