Transcorp Hotels Gets Shareholders’ Approval To Raise N10billion Through Rights Issue

Transcorp Hotels

Shareholders of Transcorp Hotels Plc, owners of the iconic Transcorp Hilton Abuja and Transcorp Hotels Calabar, have unanimously authorized the Board of Directors to raise N10 billion in its proposed Rights Issue to fortify its balance sheet.  The approval given at the Extraordinary General Meeting of the Company, which took place on Monday, 29th June 2020, in Lagos was to issue 2,659,574,468 Ordinary Shares of 50 kobos each by way of a Rights Issue to the Shareholders based on 7 new Ordinary Shares for every 20 Ordinary Shares of 50 kobos…

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Transcorp Hotels Plc Retains Positive A- (NG) GCR Rating

Transcorp Hotels

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp) and owner of the iconic Transcorp Hilton Abuja and Transcorp Hotels Calabar, has retained its national scale ratings at A-(NG) and A2(NG) in the long term and short term respectively, with the outlook accorded as Stable. Concurrently, the national scale ratings accorded to the following Issuances were also affirmed  Series 1 N10bn Fixed Rate Bond:    A-(NG), Stable Outlook  Series 2 N9.8bn Fixed Rate Bond:  A-(NG), Stable Outlook According to GCR, the rating reflects Transcorp Hotels ability to…

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