Israel's Internet Gold may sell NIS 200 million more series C notes

By Susanna Moon

Chicago, July 25 - Internet Gold - Golden Lines Ltd. said its board of directors authorized issuing up to NIS 200 million additional series C debentures in Israel under its shelf filing with the Tel Aviv Stock Exchange.

There's no definite decision on the offering, including the terms and timing, and there's no assurance that it will go through, according to a company press release.

The debentures will be offered only in Israel and will not be registered under the U.S. Securities Act of 1933.

The company reopened its 4.45% series C debentures in February to issue NIS 130 million of additional debentures. The reopened debentures were placed with Israeli institutional investors and priced at 102.75 for a yield of 4.2%.

Internet Gold said on Feb. 28 that it had sold a total of NIS 300.33 million debentures including NIS 170.33 million sold in September 2010.

The debentures are linked to the Israeli Consumer Price Index.

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

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