Kcell signs a credit line agreement with Altyn Bank JSC
Almaty, 25 September 2015 - Kcell Joint Stock Company (Kcell or Company) (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, today announces that on 11 September 2015, its Board of Directors approved an extension and increase of the line of credit opened by Altyn Bank JSC, a subsidiary of Halyk Bank JSC, within the frame agreement signed on 24 September 2013.
The line of credit to Kcell was increased from KZT 2.2 billion to KZT 3.0 billion for the working capital financing. The KZT 2.2 billion line of credit was also extended for a term of 12 months.
On 23 September 2015, Kcell JSC received an additional tranche of KZT 800 million under the above line of credit.