Cell C completes refinancing

20 Sep 2005

South African mobile operator Cell C has secured a three-year USD80 million revolving credit facility with Nedbank, completing its debt refinancing arrangements. The operator is believed to be getting its house in order ahead of the proposed tie-up of a joint venture agreement with UK-based Virgin Mobile. Richard Branson’s Virgin Group has long been looking to gain a toehold in South Africa to add to its expanding empire of Virgin Mobile MVNO businesses and sees Cell C as its way in to the country.

South Africa, Cell C