Publications
Partners
Cape Town - Mobile operator Cell C will be getting a financial injection of R5.7bn in equity and loans.
The cash boost comes from two separate deals.
An equity investment of about R3.5bn was allocated from Oger Telecom, while the R2.2bn loan package was arranged by Nedbank.
“Nedbank has again shown its support for Cell C and we thank the institution for working on this package for us," said CEO Alan Knott-Craig, according to IT News Africa.
He added that the financing package also carries partial guarantees from Oger Telecom, which is Cell C's majority shareholder, in a further indication of its support.
Graeme Auret, Nedbank corporate banking managing executive said in a statement that the loan transaction is tailored to meet the needs of Cell C as it prepares to expand its market share
"We are pleased to be playing a major role in assisting our client and, by so doing, ultimately contributing to the development of and investment in our country’s telecommunications sector,” he said.
The cash boost comes from two separate deals.
An equity investment of about R3.5bn was allocated from Oger Telecom, while the R2.2bn loan package was arranged by Nedbank.
“Nedbank has again shown its support for Cell C and we thank the institution for working on this package for us," said CEO Alan Knott-Craig, according to IT News Africa.
He added that the financing package also carries partial guarantees from Oger Telecom, which is Cell C's majority shareholder, in a further indication of its support.
Graeme Auret, Nedbank corporate banking managing executive said in a statement that the loan transaction is tailored to meet the needs of Cell C as it prepares to expand its market share
"We are pleased to be playing a major role in assisting our client and, by so doing, ultimately contributing to the development of and investment in our country’s telecommunications sector,” he said.
