Kazakhstan’s Kcell, a mobile subsidiary of Swedish incumbent TeliaSonera, is taking steps to optimise its debt structure, the telco said in a stock exchange announcement.
Earlier this week, the country’s largest operator opened a credit line with…
Kazakhstan’s Kcell, a mobile subsidiary of Swedish incumbent TeliaSonera, is taking steps to optimise its debt structure, the telco said in a stock exchange announcement.
Earlier this week, the country’s largest operator opened a credit line with Halyk Bank for KZT30bn (US$195.2m). It also agreed with Citibank and RBS to extend the maturity of its KZT14.5bn (US$94.3m) loan to September 2014.
Finally today, the company repaid syndicated loans to Citi and RBS worth KZT30.5bn (US$198.5m) plus accumulated interest of KZT820m (US$5.3m).
In December last year, Kcell was listed on both the London and Kazakhstan stock exchanges. A quarter of the company was floated at US$10.5 a share, giving it a market cap of US$2.1bn. TeliaSonera’s stake in Kcell was reduced to 61.9% as a result.
The operator recently hired Ali Agan as its new CEO. He replaced Veysel Aral, who was named president of BA Eurasia within the TeliaSonera group in February 2013.
