Israel’s Internet Gold to issue NIS 26 million series D notes in swap

By Susanna Moon

Chicago, Oct. 19 – Israel’s Internet Gold – Golden Lines Ltd. said it placed NIS 26,043,252 par amount of series D debentures to institutional, qualified and private investors in Israel in exchange for NIS 23,462,389 par amount of its outstanding series C debentures.

The private placement was structured as an add-on to the outstanding series D debentures issued in March 2014 with the same terms, according to a 6-K filing with the Securities and Exchange Commission.

After the exchange, there will be NIS 40,507,570 par amount of the series C debentures left outstanding.

The company said on Oct. 18 that it was planning the add-on issue after the exchange announced Oct. 3 when it placed NIS 201,371,696 par amount of the series D debentures in exchange for NIS 181,415,942 of its series C debentures.

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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