Bezeq has obtained a NIS500m (US$128.7m) loan, the Israeli telco announced today.
The company said that it has completed the debt financing through a loan from an Israeli bank, which matures in approximately 4.3 years.
Bezeq refused to give the name of…
Bezeq has obtained a NIS500m (US$128.7m) loan, the Israeli telco announced today.
The company said that it has completed the debt financing through a loan from an Israeli bank, which matures in approximately 4.3 years.
Bezeq refused to give the name of the bank or further details of the loan when contacted by TelecomFinance.
Israel’s largest telecoms group is undergoing a difficult period, due to increased competition and changes in regulation. Bezeq saw a decrease of 29% in Q2 profits this year.
“Fixed line is going to be the focus of the telecoms regulator in 2013 and this makes up 65% of Bezeq’s business, so it’s going to be a very challenging time,” Ori Licht, head of research at Israeli brokerage IBI, told TelecomFinance earlier this month.
