The Halyk Bank of Kazakhstan provided the Kazakhstani mobile operator Kcell the tranche, amounting to 10 bln tenge within the credit line, kapital.kz reports quoting Interfax-Kazakhstan.
“Kcell (…) informs its shareholders and investors about obtaining the tranche, amounting to 10 bln tenge within the approved credit line under the bank loan agreement between Kcell JSC and Halyk Bank of Kazakhstan JSC dated 24 September 2013 with the financing term of 18 (eighteen) months”, according to the message.
The loan term is till 16 July 2021 with the fee rate, amounting to 12.5% per year.
“The main debt will be repaid upon the expiration of grace period (18 months) by equal instalments with semiannual tranches, starting from July 19, 2020”, according to the information.
On September 24, 2013, Halyk Bank opened the credit line for Kcell, amounting to 30 bln tenge with the designed purpose – for replenishment of the working capital. In July 2016, Kcell informed about the increase of the amount of credit line from 30 bln tenge to 42 bln tenge and about the extension of the credit line use to December 2, 2019. In November 2017, the credit line was extended till December 2, 2022, As the company informed, the fully revolving credit line is aimed at financing the operating and capital costs, including the capital costs for purchasing 4G LTE licenses and/or refinancing previous capital costs for 4G LTE licenses.
