Kcell, a Kazakhstani mobile operator that operates the Kcell and Activ brands, has placed three-year bonds with a total nominal value of $62.2 million on the Astana International Exchange (AIX), according to a company statement posted on the Kazakhstan Stock Exchange (KASE) website. The funds raised will be used to «improve the loan portfolio parameters to pursue strategic objectives further and ensure financial stability.»
The coupon rate for the bonds is floating, set at the prime rate of the National Bank plus 0.5 percentage points with maturity in September 2027.
Since February, Kcell has been utilizing a credit facility from...