Cellcom, Israel’s largest mobile operator, has priced at par two series of bond and expects net proceeds of NIS326m (US$95m).
The company said it received offers for around NIS1.2bn (US$350m) but only accepted a portion of these.
The offering…
Cellcom, Israel’s largest mobile operator, has priced at par two series of bond and expects net proceeds of NIS326m (US$95m).
The company said it received offers for around NIS1.2bn (US$350m) but only accepted a portion of these.
The offering includes NIS106m of series H debentures at an annual interest rate of 1.98%, linked to the Israeli Consumer Index (CPI), and NIS223m in series I debentures at an annual interest rate of 4.14% without linkage.
Closing of the transaction is expected either today or tomorrow.
Cellcom has not said how it plans to use the proceeds and was not immediately available to comment.
Just weeks ago, it signed a 4G network sharing agreement with rival Golan Telecom. The 4G auction itself is scheduled to take place later this year and will be open to existing and new operators.
