Israel's Internet Gold offers NIS 150 million debentures due 2016-2019

By Marisa Wong

Madison, Wis., Sept. 27 - Internet Gold Golden Lines Ltd. announced that it is offering up to NIS 150 million of new non-convertible series C debentures as described in a shelf prospectus dated Sept. 1, 2010 and filed on Aug. 31 with the Israeli Securities Authority and the Tel Aviv Stock Exchange.

The debentures, which will mature during the years 2016 through 2019, will be priced at par.

The public tender for the debentures is expected to be held on Sept. 28.

The debentures will be repayable in four equal annual installments on March 10 of each of the years 2016 through 2019.

They bear a fixed rate, which will be set in the public tender, not exceeding 4.8% per year, payable semiannually on March 10 and on Sept. 10 in each of the years 2011 through 2019.

There is a NIS 22.5 million over-allotment option.

Net proceeds, excluding the greenshoe, are expected to total NIS 148,639,000.

The series C debentures are linked to the Israeli Consumer Price Index.

Internet Gold said Midroog Ltd. has assigned an A3 local-scale rating to the unsecured debentures issued by the company.

The debentures will be sold only in Israel and will be listed on the Tel Aviv Stock Exchange.

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

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