Israel's Partner Communications mulls NIS 500 million notes offering

By Susanna Moon

Chicago, April 8 - Partner Communications Co. Ltd. said it is considering issuing about NIS 500 million of notes in Israel to refinance its debt.

The company said it is considering offering three series of notes, which will mature between 2013 and 2021: fixed-rate notes linked to the Israeli Consumer Price Index; fixed-rate notes not linked to the Israeli CPI and floating-rate notes based on the interest rate of short-term debt issued by the State of Israel.

In addition, the company said that Standard & Poor's Maalot assigned an ilAA- rating to new straight bonds of up to NIS 1 billion to be issued by Partner Communications (ilAA-/stable). Proceeds from the issue will be used to replace existing debt.

Partner Communications is a Rosh Ha'ayin, Israel, mobile communications operator.

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