Israel's Internet Gold exchanges series B, C notes for series D notes

By Tali Rackner

Norfolk, Va., June 5 – Internet Gold – Golden Lines Ltd. said it completed a private placement of NIS 123,122,598 of series D debentures to institutional investors in Israel in exchange for NIS 71,014,940 of its series B debentures and NIS 41,489,016 of series C debentures.

The Regulation S transaction was structured as an increase to the outstanding series D debentures that the company first issued in March.

Following the exchange offer, NIS 140,464,823 of series B debentures and NIS 732,688,572 of series C debentures will remain outstanding. They will continue to trade on the Tel Aviv Stock Exchange.

Midroog Ltd. previously awarded a local Baa1 stable rating for the series D debentures.

Internet Gold is a telephone and internet provider based in Ramat Gan, Israel.

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