NETANYA, Israel, Nov. 23, 2020 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (TASE: CEL) (the "Company") announced today that its
Board of Directors has instructed the Company to prepare for a
potential private offering of additional debentures from the
Company's existing Series L Debentures, which are listed on the Tel
Aviv Stock Exchange, or TASE, in an aggregate principal amount of
between approximately NIS 300 - 400
million, to institutional investors in Israel only.
In addition, Standard & Poor's Maalot reaffirmed an
ilA/negative rating for such potential offering of debentures of up
to NIS 400 million principal amount,
which the Company may issue.
The execution, timing, terms and amount of such contemplated
offering have not yet been determined and are subject to further
approval of the Company's Board of Directors and the prior approval
of the TASE. There is no assurance that such offering will be
executed, nor as to its timing, terms or amount.
For additional details regarding the Company's debentures and
the Existing Indenture and the Company's options, see the Company's
annual report on Form 20-F for the year ended December 31, 2019 dated March 23, 2020 under "Item 5B. Liquidity and Capital Resources – Debt
Service" and " - Issuances of equity securities" and the Company's
current reports on Form 6-K dated May 21,
2020, under "Other developments during the first quarter of
2020 and subsequent to the end of the reporting period - Results of
Securities Offering In Israel".
The contemplated offering described in this press release
will be made, if made, only in Israel and only to residents of Israel. The securities have not been
registered under the U.S. Securities Act of 1933 and will not be
offered or sold in the United
States. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any
securities.
A security rating is not a recommendation to buy, sell or
hold securities, it may be subject to revision or withdrawal at any
time by the assigning rating organization, and each rating should
be evaluated independently of any other rating.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli
communications group, providing a wide range of communications
services. Cellcom Israel is the largest Israeli cellular provider,
providing its cellular subscribers with a broad range of services
including cellular telephony, roaming services, text and multimedia
messaging, advanced cellular and data services and other
value-added services in the areas of mobile office, data protection
etc., based on Cellcom Israel's technologically advanced
infrastructure. The Company operates advanced networks enabling
high-speed broadband and advanced multimedia services. Cellcom
Israel offers nationwide customer service including telephone
customer service, retail stores, and service and sale centers.
Cellcom Israel further provides OTT TV services, internet
infrastructure and connectivity services and international calling
services, as well as landline telephone services in Israel.
Cellcom Israel's shares are traded both on the New York Stock
Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For
additional information please visit the Company's website
http://investors.cellcom.co.il.
Company
Contact
Shai Amsalem
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-4774
|
Investor Relations
Contact
Elad Levy
Investor Relations Manager
investors@cellcom.co.il
Tel: +972-52-998-4774
|
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SOURCE Cellcom Israel Ltd.