Internet Gold plans another series D notes add-on in exchange

By Susanna Moon

Chicago, Oct. 18 – Israel’s Internet Gold – Golden Lines Ltd. said it is planning another add-on private placement of its series D debentures issued in March 2014 in addition to the exchange announced Oct. 3.

The series D notes would be issued in Israel to classified, institutional and qualified investors under section 15 in exchange for some of the company’s series C debentures with the same terms of the placement reported Oct. 3, according to the company update on Wednesday.

The issuer said on Oct. 3 that it 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.

After the exchange, there was 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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