South Africa's mobile operator Cell C defaults on repayments on $184 mln bond

  • Reuters
  • Stock Market News
South Africa's mobile operator Cell C defaults on repayments on $184 mln bond
Credit: © Reuters.

JOHANNESBURG, Aug 4 (Reuters) - South Africa's Blue Label Telecoms BLUJ.J said on Tuesday that Cell C, in which it is the largest shareholder, had defaulted on the payment of capital on its $184 million note, which was due on Aug. 2.

Cell C, a mobile carrier, also defaulted on interest and capital repayments related to the respective bilateral loan facilities between itself and Nedbank Limited, China Development Bank Corporation, Development Bank of Southern (NYSE: SO ) Africa Limited and Industrial and Commercial Bank of China Limited.

These were due in January and July 2020.

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