Browsing: China Development Bank

Telkom has secured a US$127m (R900m) loan from China with a term of up to seven years. It will use the money, at least in part, to fund its fledgling mobile business, 8ta. China Export and Credit Assurance

Mobile operator Cell C has made a further move to restructure its crippling debt. The company, which accrued the debt rolling out its second-generation voice network over the past decade, said on Friday it had offered to purchase for cash its outstanding €400m “first priority senior secured notes” due 2012.

Cell C has finally released a few details about its €240m (R2,2bn) loan agreement with China Development Bank. The money will be used to restructure the company’s debt. TechCentral reported on 24 August that the mobile operator had secured the loan.

It’s Friday again and that means another episode of SA’s business technology podcast, TalkCentral. This week, your hosts Duncan McLeod and Candice Jones delve into the ongoing drama at the department of communications, where fired communications department director-general Mamodupi Mohlala has been reinstated — at least for now — by minister Siphiwe Nyanda.

Cell C has signed a €240m (R2,2bn) loan agreement with China Development Bank, according to a statement issued by an SA government delegation, led by President Jacob Zuma, that is visiting China this week. The loan comes just months after Cell C shareholders agreed to restructure the mobile operator’s debt by converting billions of rand of debt into equity.