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Cash-rich Britam retires Sh6 billion bond
Britam Executive Director Stephen Wandera, Managing Director Benson Wairegi and Finance and Strategy Director Gladys Karuri during the release of the half year results at Britam Centre in Nairobi on August 24, 2018. PHOTO | SALATON NJAU
Britam #ticker:BRIT will save hundreds of millions of shillings in interest payments after it retired early its Sh6 billion corporate bond, reflecting the firms increased cash flow.
The firm borrowed the Sh6 billion in 2014 and was to repay the facility on July 15 next year, shortening the period for paying interest that amounted to Sh780 million annually.
