TransCentury has placed an advert in the local dailies to reassure investors and shareholders of their ability to repay the Ksh 8 billion senior unsecured convertible bond which is due on 25th Next month.
The NSE Listed investment firm says its confident that the bond which was issued by its wholly owned subsidiary, TC Mauritius Holdings Limited will be settled on or before maturity.
“The company is implementing a fund raising programme and the board is confident that an agreement will be made to settle the TC Mauritius debt,” read the press release.
“TransCentury is likely to negotiate for a rescheduling as repayment on maturity looks very unlikely” Argues Mr Sunil Sanger, a Nairobi based fixed income expert.
Yesterday, Transcentury Limited recovered 4.39% in value to settle at KES 5.95, this slight gain was attributed to the above advert on debt settlement.Yesterday’s gain was the first in February this year after days of consistent shedding which saw the stock hit a new all time low just last week.
Related; TransCentury launches Pothole patching technology as Share Price hits lowest level since listing
