Partner Communications Announces the Results of the Public Bid Process for Its Notes in Israel
April 22 2010 - 3:08PM
Business Wire
Partner Communications Company Ltd. ("Partner" or the
"Company") (NASDAQ:PTNR) (TASE:PTNR), a leading Israeli
communications operator, announces that the public bid for the
Company's Series C, D and E Notes (the "Notes"), previously
announced on April 15, 2010 and on April 21, 2010, has been
concluded.
The Company expects to issue, in consideration of its par value,
NIS 1,000,000,000 of the unsecured and non-convertible Notes, which
will mature during the period 2013-2021, and which will be listed
for trade on TASE, according to the following details:
(1) Series C Notes in a principal amount of NIS 200,000,000,
which will be payable in 3 equal annual installments on December 30
of each of the years 2016 through 2018, bearing a fixed annual
interest rate of 3.35%, which will be payable semiannually on June
30 and on December 30 of each of the years 2010 through 2018.
Series C Notes (principal and interest) will be linked to the
Israeli Consumer Price Index ("CPI") for the month of March 2010;
(2) Series D Notes in a principal amount of NIS 400,000,000, which
will be payable in 5 equal annual installments on December 30 of
each of the years 2017 through 2021, bearing a floating annual
interest rate based on the interest rate of short term debt issued
by the State of Israel ('Makam') in addition to a fixed annual
interest rate spread of 1.20%, which will be payable quarterly on
March 30, June 30, September 30 and on December 30 of each of the
years 2010 through 2021. Series D Notes (principal and interest)
will not be linked to any currency or index.; and (3) Series E
Notes in a principal amount of NIS 400,000,000, which will be
payable in 5 equal annual installments on December 30 of each of
the years 2013 through 2017, bearing a fixed annual interest rate
of 5.50%, which will be payable semiannually on June 30 and on
December 30 of each of the years 2010 through 2017. Series E Notes
(principal and interest) will not be linked to any currency or
index.
On April 8, 2010, Standard & Poor's Maalot announced that it
assigned its 'ilAA-/Stable' rating to the Notes.
The Public Offering was made in Israel to residents of Israel
only. The Notes will not be registered under the U.S. Securities
Act of 1933, as amended, and will not be offered or sold in the
United States or to U.S. persons, absent of registration or
applicable exemption from the registration requirement.
This press release shall not be deemed to be an offer to sell or
a solicitation of an offer to buy any of the Notes.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the US Securities Act of 1933, as
amended, Section 21E of the US Securities Exchange Act of 1934, as
amended, and the safe harbor provisions of the US Private
Securities Litigation Reform Act of 1995. Words such as "believe",
"anticipate", "expect", "intend", "seek", "will", "plan", "could",
"may", "project", "goal", "target" and similar expressions often
identify forward-looking statements but are not the only way we
identify these statements. All statements other than statements of
historical fact included in this press release regarding our future
performance, plans to increase revenues or margins or preserve or
expand market share in existing or new markets, reduce expenses and
any statements regarding other future events or our future
prospects, are forward-looking statements.
We have based these forward-looking statements on our current
knowledge and our present beliefs and expectations regarding
possible future events. These forward-looking statements are
subject to risks, uncertainties and assumptions about Partner,
consumer habits and preferences in cellular telephone usage, trends
in the Israeli telecommunications industry in general, the impact
of current global economic conditions and possible regulatory and
legal developments. For a description of some of the risks we face,
see "Item 3D. - Key Information - Risk Factors", "Item 4. -
Information on the Company", "Item 5. - Operating and Financial
Review and Prospects", "Item 8A. - Consolidated Financial
Statements and Other Financial Information - Legal and
Administrative Proceedings" and "Item 11. - Quantitative and
Qualitative Disclosures about Market Risk" in the form 20-F filed
with the SEC on March 22, 2010. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
in this press release might not occur, and actual results may
differ materially from the results anticipated. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
About Partner
Communications
Partner Communications Company Ltd. ("Partner") is a
leading Israeli provider of telecommunications services (cellular,
fixed-line telephony and internet services) under the orange™
brand. The Company provides mobile communications services to over
3 million subscribers in Israel (as of December 31, 2009).
Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and
its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and
TASE: PTNR).
Partner is an approximately 45% owned subsidiary of Scailex
Corporation Ltd. ("Scailex"). Scailex's shares are traded on
the Tel Aviv Stock Exchange under the symbol SCIX and are quoted on
"Pink Quote" under the symbol SCIXF.PK. Scailex currently operates
in two major domains of activity in addition to its holding in
Partner (after selling "Dynamic", a chain of retail stores and
booths to Cellcom on April 1, 2010): (1) the sole import,
distribution and maintenance of Samsung mobile handset and
accessories products primarily to the major cellular operators in
Israel (2) management of its financial assets.
For more information about Scailex, see
http://www.scailex.com.
For more information about Partner, see
http://www.orange.co.il/investor_site.
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