Israeli telco Partner Communications, which operates under the Orange brand, has signed four loan agreements worth a total NIS400m (US$101.98m) to refinance existing debt and fund business operations.
The four loans, of NIS100m (US$25.5m) each, were…
Israeli telco Partner Communications, which operates under the Orange brand, has signed four loan agreements worth a total NIS400m (US$101.98m) to refinance existing debt and fund business operations.
The four loans, of NIS100m (US$25.5m) each, were entered into over the past week, Partner said in a statement today.
The first, an immediate eight-year loan with an unnamed bank, bears unlinked shekel interest at an annual rate of 2.93%.
The second, also an immediate eight-year loan with a bank, has an interest rate of 3.08%.
A third loan, to be provided by a group of institutional corporations in December 2017, will have a 4.44% interest rate over five years.
A fourth loan, again to be provided by a group of institutional corporations in December 2017, will have a 4.34% interest rate over five years.
There are certain conditions under which the lenders may decide not to grant the third and fourth loans.
Partner is Israel’s second-largest mobile operator in a five-player market. It has a market cap on the NASDAQ of US$951.35m.
