Israel's Partner Communications postpones NIS 500 million note sale

By Susanna Moon

Chicago, Oct. 21 - Partner Communications Co. Ltd. postponed its plans to offer debt securities in Israel, according to a 6-K filing with the Securities and Exchange Commission.

Partner Communications said it will reconsider the offering at about the time of its announcement of third-quarter results, expected in November.

The company said on Sept. 7 that it was considering a uniform public offering for about NIS 500 million, with the proceeds to be used for either payment on or repurchase of its series A notes.

In connection with the offering, the company was considering expanding two series of its notes currently traded on the Tel Aviv Stock Exchange - its series C 3.35% fixed-rate notes linked to the Israeli Consumer Price Index and its series E 5.5% fixed-rate notes not linked to the Israeli CPI.

Partner Communications is a Rosh Haayin, Israeli-based provider of telecommunications services under the Orange brand name.

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