Internet Gold completes NIS 65 million debentures private placement

By Marisa Wong

Madison, Wis., Dec. 5 - Internet Gold-Golden Lines Ltd. completed a NIS 65 million private placement of series C debentures, according to a press release.

The company sold the debentures for a total consideration of about NIS 64 million in a transaction led by Clal Finance Underwriting Ltd.

The Regulation S offering was made to Israeli institutional and qualified investors.

The private placement was an increase to the company's existing debentures first issued in September 2010. Most recently, the company issued NIS 60 million of the series C debentures on Nov. 18.

According to the press release, the Israeli Tax Authority approved the formula for calculating the adjusted discount rate for the series C debentures. With the latest placement, the adjusted discount rate for all outstanding series C debentures is 2.6%.

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

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