Funding Secured for South African Operator

South Africa's 3rd GSM network operator, Cell C says that it has secured a three year US$80 million Revolving Credit Facility with Nedbank Limited, a leading South African bank. As previously described by Cell C in its High Yield Bond Offering Memoranda and as indicated at the company's media briefing on 1 September 2005, this completes the financing arrangements required by Cell C.

Cell C's Chief Financial Officer, Muhieddine Ghalayini, commented, "Our successful High Yield Bond issues and the conclusion of this significant facility with Nedbank demonstrate our sound financial position and strong growth prospects."

Posted to the site on 20th September 2005