Israel's Internet Gold may exchange series C notes for series B notes

By Marisa Wong

Madison, Wis., Dec. 7 - Internet Gold - Golden Lines Ltd. announced that it may carry out a private placement of its series C debentures in exchange for series B debentures held by Israeli institutional investors.

The company has not yet determined the terms, timing or amount to be raised, and the company may abandon the placement altogether, according to a 6-K filing with the Securities and Exchange Commission.

Midroog Ltd., an Israeli rating agency affiliated with Moody's Investors Service, announced that it assigned its A3 rating (local scale) for up to an additional 150 million of new series C debentures, which may be issued in the potential placement.

Internet Gold is a telephone and internet provider based in Petach Tikva, Israel.

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