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Published on 6/9/2014 in the Prospect News Emerging Markets Daily.

Israel's Internet Gold issues series D notes in exchange for two series

By Jennifer Chiou

New York, June 9 – Internet Gold – Golden Lines Ltd. said it completed a private placement of NIS 55,688,388 of series D debentures to institutional investors in Israel in exchange for NIS 17,498,350 of its series B debentures and NIS 34,835,200 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, according to a filing with the Securities and Exchange Commission.

Following the exchange offer, NIS 122,966,473 of series B debentures and NIS 697,853,372 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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