Israel’s Partner sets discount rate for NIS 400 million 2.16% add-on

By Susanna Moon

Chicago, Dec. 13 – Partner Communications Co. Ltd. said the discount rate will remain unchanged at 0.65868% for its add-on issue of NIS 400 million of 2.16% series F debentures.

As a result, the uniform weighted discount rate according to a formula that weights the discount rate for the series F debentures with the discount rate set for the deferred issue of the add-ons is 0.09936%, according to a 6-K filing with the Securities and Exchange Commission.

The company previously said it agreed to sell another NIS 400 million of 2.16% series F debentures in the tender that took place on Monday.

The price was set at NIS 1,027 with 48 orders received for the purchase of 389,483 units.

Partner said its shelf offering dated Dec. 10 was extended until June 2, 2018.

In the placement, the company offered up to NIS 455 million of the public debentures at NIS 1 principal amount each, or 455,000 units by way of a tender at a unit price of no less than NIS 1,027 per NIS 1,000 par amount.

As announced Sept. 13, the issuer agreed to sell another NIS 150 million of series F debentures on Dec. 4 in a private placement to some Israeli institutional investors.

The price was set at NIS 1.003 for each NIS 1 par amount for total proceeds of NIS 150.45 million, reflecting an effective yield of 2.366% per year.

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

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