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Wednesday, 27 March 2019

GTH board approves rescheduling of USD 100 mn loan from majority shareholder

Global Telecom Holding’s (GTH) board of directors has approved a three-month extension on the maturity of a USD 100 mn revolving credit facility from majority shareholder Veon Holdings, according to an EGX disclosure (pdf). The debt was originally due to be settled on 31 May. GTH said earlier this week it had postponed to 26 June a general assembly meeting to vote for a capital increase of EGP 11.2 bn after Veon rescheduled the repayment of this debt and another also due in May.

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