By Angela McDaniels
Tacoma, Wash., Nov. 25 - Partner Communications Co. Ltd. agreed with Israeli institutional investors to issue approximately NIS 448 million of 3.4% unsecured non-convertible series B notes through a private placement, according to a company news release.
Principal and interest are linked to increases in the Israeli consumer price index.
The principal amount of the notes will be repayable in four equal annual installments between 2013 and 2016.
The notes will be listed for trade on the Institutional Retzef, a trading system for institutional investors in Israel.
The company said it will also use its best efforts to list the notes on the Tel Aviv Stock Exchange by June 30, 2010. The interest rate on the notes will be increased by 0.6% per year until a prospectus or a shelf offering report is published for the listing of the notes on the exchange.
The notes have been rated ilAA- on a local scale by Standard & Poor's Maalot.
Partner Communications is a Rosh Ha'ayin, Israel, mobile communications operator.
| Issuer: | Partner Communications Co. Ltd.
|
| Issue: | Unsecured non-convertible series B notes
|
| Amount: | NIS 448 million
|
| Maturity: | 2016
|
| Coupon: | 3.4%
|
| Price: | Par
|
| Pricing date: | Nov. 25
|
| Rating: | S&P Maalot: ilAA-
|
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