NETANYA, Israel, Nov. 26, 2020 /PRNewswire/ -- Cellcom Israel
Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced
today that following the previously announced preparation for a
private debenture offering in Israel of additional debentures of the
existing series L debentures, which are listed on the Tel Aviv
Stock Exchange, or TASE, the Company received orders from
certain institutional investors for approximately NIS 744 million principal amount of additional
Series L debentures, out of which the Company accepted (subject to
the TASE's approval) orders for NIS 400
million aggregate principal amount of additional Series L
debentures, for a total consideration of approximately NIS 391 million.
The price was set at NIS 977 for
each Series L debenture of NIS 1,000
principal amount, reflecting an effective interest of 3.55% per
annum. Accordingly, the debentures series L will be issued at a
discount over the adjusted principal amount of the debentures
(reflecting accumulated interest).
The net proceeds from the offering shall be used for general
corporate purposes.
Resale of the new Series L debentures (once issued) shall be
subject to the limitations set in section 15c of the Israeli
Securities Law and the regulations promulgated
thereunder.
The closing of the private offering is subject to the receipt of
the TASE's approval.
For additional details see our most recent annual report for the
year ended December 31, 2019 on Form
20-F, filed on March 23, 2020 under:
"Item 5. Operating and Financial Review and Prospects – B.
Liquidity and Capital Resources – Debt Service – Public Debentures"
And our most recent report on Form 6-K filed on November 23, 2020.
The offering described in this press release was 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.
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.