Israeli mobile operator Partner Communications has signed two loan agreements with undisclosed institutional corporations worth a combined NIS275m (US$69.8m).
One loan has a principal amount of NIS200m (US$50.8m) and will bear simple, unlinked shekel…
Israeli mobile operator Partner Communications has signed two loan agreements with undisclosed institutional corporations worth a combined NIS275m (US$69.8m).
One loan has a principal amount of NIS200m (US$50.8m) and will bear simple, unlinked shekel interest for eight-and-a-half years, with semi-annual payments beginning in March 2018, according to a company statement.
The other has a principal amount of NIS75m (US$19m) and will bear simple, unlinked shekel interest for five-and-a-half years, with quarterly payments starting in June 2018.
Partner noted that the loans, which are not secured by any liens, will be used to refinance existing debt and fund operating activities.
The Tel Aviv-listed telco provides mobile, fixed-line telephony and internet services under the Orange and 012 Smile brands. It is not, however, owned by the French incumbent.
In January, Partner secured 4G spectrum for about US$8.5m in an auction in which the country’s four other established mobile operators and a new entrant took part.
