Israel’s Internet Gold issues NIS 201.37 million of notes in exchange

By Susanna Moon

Chicago, Oct. 3 – Israel’s Internet Gold – Golden Lines Ltd. placed NIS 201,371,696 par amount of its series D debentures in exchange for NIS 181,415,942 of its series C debentures.

The private placement was structured as an add-on to the outstanding series D debentures originally issued in March 2014, according to a company announcement.

The exchange was arranged with institutional, qualified and private investors in Israel.

After the exchange, there will be NIS 63,969,960 of series C debentures left outstanding.

The terms of the newly issued series D debentures will be identical to the terms of the original issue.

The newly issued notes will be listed on the Tel Aviv Stock Exchange.

Midroog Ltd., an Israeli rating company affiliated with Moody’s, previously assigned a local Baa1 stable rating to the series D debentures.

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

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