BLUE LABEL TELECOMS LIMITED - Notification: CELL C Default
Notification: CELL C Default
Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU ISIN: ZAE000109088
(“Blue Label” or “the company”)
NOTIFICATION: CELL C DEFAULT
Cell C has today notified its Noteholders that is has defaulted on the payment of capital on its
$184,002,000 note which was due on 2 August 2020; as well as interest and capital repayments
related to the respective bilateral loan facilities between Cell C and Nedbank Limited, China
Development Bank Corporation, Development Bank of Southern Africa Limited and Industrial and
Commercial Bank of China Limited, which were due in January and July 2020.
Currently, none of the bilateral loan facilities have been accelerated as noteholders are aware and
support that Cell C is committed to resolving the situation by agreeing to restructuring terms with its
lenders while it also continues to work proactively with all stakeholders to improve its liquidity, debt
profile and long-term competitiveness.
Cell C’s full media statement can be accessed via https://www.bluelabeltelecoms.co.za/inv-
announcements-cellc.php
Sandton
4 August 2020
Sponsor: Investec Bank Limited
Date: 04-08-2020 12:53:00
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