FOUNDING FAMILY ACQUIRES NAD 297M USD 16M LONG-TERM FOREIGN DEBT OF TRUSTCO
Windhoek, Khomas, Namibia, 18th Mar 2025 – Trustco Group Holdings Limited (“Trustco” or “the Group”) today announced that Next Capital (Pty) Ltd (“Next Capital”), the founding family shareholder of Trustco, has acquired international debt to the amount of NAD 297 million (USD 16 million) of an investment subsidiary of Trustco.
This acquisition increases Trustco’s total debt to Next Capital to NAD 5 121 million (USD 280 million), reflecting a debt package that includes both interest-bearing and non-interest-bearing components, subordinated and first-ranked obligations, as well as secured, unsecured and equity debts. After this acquisition, the founding family holds 70% of long-term debt across the group.
Quinton Z van Rooyen, Deputy CEO of Trustco Group Holdings
This development comes as ...