This archive report was first published on 10 June 2020.
On June 10, 2020, Centum Investment Plc made history by repaying its Sh6.6 billion corporate public bond, marking a significant milestone in the company's efforts to strengthen its balance sheet and enhance liquidity.
According to the company, the repayment is inclusive of accrued interest and a variable return to holders of the Equity Linked Note component.
This achievement comes on the heels of the settlement of an Sh7.8 billion dollar-denominated loan in September last year, which further reduced the company's debt burden.
Centum Investment Group CEO James Mworia attributed the success to the company's Centum 4.0 Strategy, which aims to strengthen the balance sheet and enhance liquidity.
"I am pleased that 14 months into the Centum 4.0 strategy period and despite the difficult economic environment which has been exacerbated by the economic shocks arising from the Covid – 19 pandemic, we have delivered on this critical strategic objective," Mworia said.
He added that the company's strong liquidity and balance sheet position have put it in a strong position to take advantage of investment opportunities that will emerge given the significant corrections that have taken place on valuations of even very strong companies.
