By Marisa Wong
Morgantown, W.Va., July 20 – Israel’s Partner Communications Co. Ltd. said it sold NIS 254.55 million of series F debentures due June 25, 2024 at par with a coupon of 2.16%.
The company had launched a public offering in Israel of up to NIS 300 million of the series F debentures. The offer period began and closed on Wednesday.
Of the 57 orders received, 34 orders totaling NIS 250 million were from classified investors and 23 orders totaling NIS 4.55 million were from the public, according to a 6-K filing with the Securities and Exchange Commission.
Proceeds from the Regulation S securities will be used to increase the company’s liquidity so that it can meet scheduled debt repayments, according to a previous announcement.
Maalot S&P affirmed an ilA+ rating for the new bond series, as previously noted.
Partner Communications is a Rosh Ha’ayin, Israel mobile communications operator.
| Issuer: | Partner Communications Co. Ltd.
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| Issue: | Series F debentures
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| Amount: | NIS 254.55 million
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| Maturity: | June 25, 2024
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| Coupon: | 2.16%
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| Price: | Par
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| Yield: | 2.16%
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| Pricing date: | July 19
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| Rating: | Maalot S&P: ilA+
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| Distribution: | Regulation S
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