Infinity Industrial Park says that it had consistently made substantial repayments towards its obligations to Bank of Baroda.
According to Infinity, by 31 December 2023, the company had paid approximately KSh 1.3 billion to Bank of Baroda, comprising approximately KSh 500 million in capital repayments and approximately KSh 800 million in interest payments.
Infinity maintains that this substantial repayment history demonstrates that the company was not seeking to avoid its financial obligations to the bank. Rather, it had continued servicing the facilities while attempting to find a commercially viable solution for the remaining outstanding debt.
Infinity further points out that throughout this period, Bank of Baroda continued to hold security over approximately 200 acres of Infinity Industrial Park’s property, which Infinity says was valued at approximately KSh 10.3 billion. The company therefore maintains that the bank was holding security of substantial value while Infinity continued making repayments and proposing various mechanisms to further reduce the outstanding debt.
Despite this security position, Infinity says it repeatedly approached Bank of Baroda seeking restructuring of the facilities and partial discharge of limited portions of the approximately 200-acre property. Infinity’s proposal was that the released portions could be sold or developed, allowing the proceeds to be applied directly towards further reduction of the Bank’s outstanding exposure.
In December 2025, Infinity went further and offered to pay an additional KSh 250 million against the partial discharge of approximately 10 acres of the charged property, with the objective of further reducing the debt and assisting in regularising the account from its NPA status.
According to Infinity, that proposal was also rejected by Bank of Baroda.
