By Susanna Moon
Chicago, Jan. 5 - B Communications Ltd. sold another NIS 100 million of its 6½% series B debentures to Israeli institutional investors, bringing the total deal size to NIS 500 million.
The company priced NIS 400 million of the notes at par on Sept. 27. The public tender for the debentures was held on Sept. 21.
As previously noted, the principal will be repayable in four equal annual installments on March 31 of each year beginning in 2016.
The debentures are NIS-denominated and are not linked to the Israeli Consumer Price Index.
The notes will not be registered under the U.S. Securities Act.
The company will list the debentures for trading on the Tel Aviv Stock Exchange.
B Communications said Midroog Ltd. has assigned an A2 local-scale rating to unsecured debentures issued by the company.
Ramat Gan, Israel-based B Communications holds a controlling interest in Bezeq, Israel's incumbent telecommunications provider.
| Issuer: | B Communications Ltd.
|
| Issue: | Series B debentures
|
| Amount: | NIS 500 million, up from NIS 400 million
|
| Maturity: | March 31, 2019
|
| Coupon: | 6½%
|
| Price: | Par
|
| Yield: | 6½%
|
| Pricing date: | Sept. 21 for NIS 400 million, Jan. 5 for add-on
|
| Settlement date: | Sept. 26 for NIS 400 million
|
| Rating: | Midroog: A2
|
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