Almaty, 11 November 2021. – Kcell Joint Stock Company (“Kcell” or the “Company”) (KASE, AIX: KCEL), one of the leading provider of mobile telecommunications services in Kazakhstan, announces that on 10 November 2021 Kcell and First Heartland Jusan Bank JSC signed a KZT 60.5 billion credit facility agreement.
Under the agreement, Jusan Bank will open a line of credit for Kcell for the period until 2024. The credit line will be used for refinancing existing loans and to implement its five-year development strategy.
“Kcell and Jusan Bank have a lot in common. Strategically, we are moving in one direction with our extensive and ambitious plans to become the best digital companies in our segments. This agreement will lay a solid foundation for our strategic partnership. I am confident that projects like this will result in a successful collaboration between the bank and the mobile operator in the development of unique ecosystems. We appreciate the trust and support we are getting from one of the most innovative financial institutions in the country. The signed agreement once again testifies to the high credit ability of Kcell,” said Yuri Kharlamov, Chairman of the Management Board of Kcell JSC.
“Kcell is a leading provider of mobile services in Kazakhstan that has gained a reputation of a sustainable and reliable player in Kazakhstan’s telecom market. This long-term and large credit transaction with Jusan Bank, accounting for 29% of the total book value of the Company’s assets, will certainly wield major influence on the continued active development of the company and will have a positive impact on the growing ecosystem of Jusan as a whole,” said Aibek Kayip, Chairman of the Board of Jusan Bank.
Kcell plans to utilize attracted funds for the implementation of its 2022-2026 development strategy aimed at the deployment of an integrated network to improve service quality, including in rural areas, introduction of a new digital billing system, as well as the deployment of the 5G network.
It should be noted that the Board of Directors of Kcell JSC approved for attracting external funding from First Heartland Jusan Bank JSC on 29 October 2021.
|Irina Shol||Tel: +7 727 2582755 ext. 1002Investor_relations@kcell.kz|
Kcell is a national provider of the digital telecommunications services: mobile and fixed-mobile convergence (FMC) services, data transmission and Internet access, financial services, digital services and mobile applications, IT solutions in the field of system integration, the Internet of things, machine-to-machine connectivity, collection and processing of big data and cloud computing. Kcell is also a leading mobile operator in Kazakhstan providing the ‘smartphone+tariff’ service.
Kcell has become the largest digital ecosystem in Kazakhstan with a competitive advantage through its value-added services such as mobile financial services, mobile TV, online movies, music, books and magazines, as well as unique solutions for business customers. The company holds leading positions in the B2B market thanks to its strategy of vertical infrastructure solutions and development and implementation of the cutting-edge technologies. The company’s 4G/LTE network covers 67.5% of the country’s population and provides high quality services.
The company operates under its two brands – Kcell and activ that are widely recognized in our highly competitive telecom market due to the high quality of customer service. Thanks to its clear multi-brand architecture, Kcell increases its business efficiency in the B2C segment through optimal pricing for bundled offerings, customer base profitability management and network quality.