B Communications, the holding company that controls Israel’s incumbent telco Bezeq, announced that it has received NIS330.2m (US$89m) commitment for its NIS400m (US$107.5m) six-year bond issue.
The institutional investors who made an early commitment…
B Communications, the holding company that controls Israel’s incumbent telco Bezeq, announced that it has received NIS330.2m (US$89m) commitment for its NIS400m (US$107.5m) six-year bond issue.
The institutional investors who made an early commitment will receive a 0.65% above their normal fees.
The interest rate will be set by public tender, but will not exceed 6.5% per year. with the public tender process starting today.
The issue of Series B Debentures will be payable in four semi-annual instalments from 2016 to 2019.
The notes will be listed on the Tel Aviv Stock Exchange.
Midroog, an Israeli ratings agency affiliated with Moody’s awarded the issue a A2 stable rating.
The advisers on the deal are Poalim IBI, Leader Capital Markets, Clal Finance, Giza Zinger Even, Barak Capital, Israel Discount Markets and Apex.
Bezeq previously announced that it had completed debt financing of NIS700m (US$188.4m), through loans from Israeli banks, with an average duration of 4.8 years on September, 1. The company also completed debt financing totalling NIS1.5bn (US$403.5m) through loans from Israeli banks, with an average duration of 4.6 years on April, 15.
