Kuramo Capital Agrees to Buy $20m Stake in TransCentury of Kenya

March 15, 2016

“This investment by the strategic investor will complement other funding options to settle the outstanding convertible bond and fund infrastructure projects,” Nairobi- based co. says in newspaper statement.

* TC Mauritius Holdings, TransCentury’s Mauritian unit, implementing “ongoing fundraising programme”;
* Farallon Capital Europe, Investec Asset Management propose bondholders receive half of 8b shillings due March 25, balance by March 2017 via rights offer, Nairobi-based Business Daily reports, citing offer letter;
* NOTE: Feb. 15, TransCentury of Kenya Working on Bond Repayment Plan.  Source: Bloomberg