Thomas Cook India announces debt pre-payment

The Thomas Cook (India) Group announced the reduction of debt making it debt-free by September 30, 2018. The group will pre-pay Rs. 67 crore non-convertible debentures.

A stable and strong cash flows from its operating businesses have enabled the company reduce debt at a steady pace. In addition to the pre-payment, the company targets further reduction of its group debt over the next three financial years.

Debasis Nandy, President & Group Chief Financial Officer, Thomas Cook (India) said, “Our organic growth and focus on working capital management has enabled us to generate strong and steady cash flows. This has been used to deleverage the balance sheet and create a strong platform for acquisitions as and when the opportunity should arise.”

Thomas Cook (India) Limited (TCIL) is an integrated travel and travel-related financial services company offering a broad spectrum of services that include foreign exchange, corporate travel, mice, leisure travel, insurance, visa & passport services and e-business.

The shares of Thomas cook reached intraday high at Rs. 256.20 and intraday low was at Rs. 242.70 per share. The 52-week high was Rs. 302 and 52-week low was Rs. 216 per share on the BSE on Wednesday. 

At 13:02 hours, the share was trading at Rs. 250 per share, up by 1.31 per cent while the BSE Sensex was at 37,891 level, down by 0.70 per cent and Nifty50 was at 11,425.85 level, down by 0.82 per cent.