By Susanna Moon
Chicago, Jan. 18 – Kcell JSC said it placed KZT 4.95 billion of three-year bonds with an 11½% coupon.
The issue was the first under the program announced Dec. 14, “aimed at expanding and diversifying the company’s funding sources, increasing the average term of Kcell's financial liabilities and decreasing its funding costs,” according to an announcement.
The issuer said on Dec. 14 that it plans to place KZT 30 billion of three-year bonds with an 11½% coupon.
The bonds will be placed on the Kazakhstan Stock Exchange and sold from the company’s KZT 50 billion bond program.
Kcell is an Almaty, Kazakhstan, provider of mobile telecommunications services.
| Issuer: | Kcell JSC
|
| Issue: | Notes
|
| Amount: | KZT 4.95 billion
|
| Maturity: | Three years
|
| Coupon: | 11½%
|
| Issue date: | Jan. 16
|
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