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Thomas Cook (India) Group has announced reduction of debt of its standalone entity, making it debt-free by September 30. Accordingly, the group will prepay ₹67 crore non-convertible debentures by September 30, significantly ahead of schedule. This, combined with the proceeds of the OFS used to settle short-term debts, will result in a contribution of ₹36 crore annually to TCIL’s bottomline, it said in a statement to the bourses. In addition to the above prepayment, the company targets further reduction of its group debt over the next three financial years. Shares of Thomas Cook slipped 0.44 per cent at ₹246.60 on the BSE.
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