Kcell and First Heartland Jusan Bank sign agreement on opening of line of credit

11.11.21 21:27
/KASE, November 11, 2021/ – Kcell (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated November 11, 2021: quote 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 KZT60.5 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. unquote The full press release is available on KASE website: - https://kase.kz/files/emitters/KCEL/kcel_reliz_111121.pdf – in Russian; - https://kase.kz/files/emitters/KCEL/kcel_reliz_111121_en.pdf – in English. [2021-11-11]