Kcell signs additional agreement with Halyk Bank of Kazakhstan

26.03.20 18:28
/KASE, March 26, 2020/ – Kcell (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with an information statement of March 26, 2020: quote 1. To sign an Addendum to the current Agreement on the urgent line of credit dated 24 September 2013, signed between Kcell and Halyk Bank of Kazakhstan JSC, on the following conditions: - Change the interest rate to 12.5% per annum on loans for a period of up to 12 months and to 13.0% per annum on loans for a period of between 12 months and 36 months; - Extend the period of availability of the credit line until 31 December 2021; - Extend the term of the credit line under this Agreement until 31 December 2025. 2. To conclude a major transaction: a bank loan agreement under the Agreement on an express line of credit dated 24 September 2013 (subject to changes in the conditions of the credit line specified in paragraph 1 above) in order to use the credit line limit in the amount of up to KZT 42 billion on the following conditions: - Financing of working capital and/or investments; - Interest rate should not exceed 13.0% per annum; - Loan use period should not exceed 36 months; - Quarterly interest payments. This transaction is qualified as a major transaction in accordance with the legislation of the Republic of Kazakhstan, as the potential liability to Halyk Bank of Kazakhstan JSC may exceed 25% of the Company's total assets. Kcell will consider the possibility and expediency of raising funds within the framework of the credit line agreement, subject to the Company’s financial needs and potential impact it may have on its financial stability. unquote Detailed information is available on KASE website: - http://kase.kz/files/emitters/KCEL/kcel_reliz_260320_1.pdf – in Russian; - http://kase.kz/files/emitters/KCEL/kcel_reliz_260320_eng_1.pdf – in English. [2020-03-26]