By Angela McDaniels
Tacoma, Wash., April 6 - Cellcom Israel Ltd. priced NIS 185.97 million principal amount of series D debentures and NIS 788.67 million principal amount of series E debentures, according to a company news release.
The series D debentures, an add on to an existing issue, priced at 116.1. They carry a coupon of 5.19%, linked to the Israeli Consumer Purchase index.
The series E debentures priced at par and carry a 6¼% coupon, payable annually.
The principal of the series E debentures is payable in six equal installments on Jan. 5 of 2012 through 2017.
The public offering was held Monday, and settlement is expected to occur Tuesday or Wednesday.
The company received early commitments from institutional investors on Friday for NIS 148.77 million of the series D debentures at the price of at least 115.7 with a coupon of 5.19% and for NIS 699.17 million of the series E debentures with a coupon of no more than 6.4%.
The institutional investors received a discount of 0.5%.
The debentures were offered only in the local Israeli market and will be listed for trading on the Tel Aviv Stock Exchange.
The proceeds will be used for general corporate purposes.
Cellcom Israel is a Netanya, Israel-based telecom provider.
| Issuer: | Cellcom Israel Ltd.
|
| Issue: | Debentures
|
| Pricing date: | April 6
|
| Settlement date: | April 7 or 8
|
|
|
| Series D
|
| Amount: | NIS 185.97 million
|
| Coupon: | 5.19%
|
| Price: | 116.1
|
|
|
| Series E
|
| Amount: | NIS 788,667,000
|
| Maturity: | Jan. 5, 2017
|
| Coupon: | 6¼%
|
| Price: | Par
|
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