Chronicle Editor
Oliver Kazunga, Senior Business Reporter
ECONET Wireless Zimbabwe is inviting its debenture holders for early redemption to allow the Reserve Bank of Zimbabwe to manage liquidity as the aggregate redemption value of US$72,9 million on maturity is huge for the economy.
A debenture is a type of debt instrument that is not backed by any collateral but by creditworthiness and reputation of the issuer and is issued by corporates to raise capital for their projects.
In a public notice, the country’s largest telecommunications firm said: “Notice is hereby given to the debenture holders of Econet Wireless Zimbabwe Limited inviting them to offer their debentures to the company for early redemption in accordance with the provisions of the Debenture Trust Deed dated 18 January 2017 and the circular under which these debentures were issued dated 17 January 2017.” – @okazunga
Online Reporter