012 Smile.Communications Announces a NIS 3.9 Billion Financing Agreement with a Consortium Led by Bank Hapoalim to Fund its A...
February 11 2010 - 3:18AM
Business Wire
012 Smile.Communications Ltd. (Nasdaq: SMLC - News), a member of
the Eurocom Group, announced today that it has signed a NIS 3.9
billion (approximately $1.04 billion) financing agreement with a
consortium led by Bank Hapoalim BM to facilitate the funding of the
previously announced acquisition by the 012 Smile Group of the
controlling interest in Bezeq - The Israel Telecommunication Corp.,
Israel’s largest telecommunications provider (TASE: BZEQ).
The financing will be provided to the 012 Smile Group by a
consortium led by Bank Hapoalim BM, which is expected to include
Bank Leumi le-Israel BM, Amitim (Senior Pension Funds), Israel
Discount Bank, Mizrahi Tefahot Bank, HSBC, First International Bank
of Israel and Union Bank. Bank Hapoalim BM will serve as the
manager of the loan.
In addition, Bank Hapoalim BM will provide the 012 Smile Group
with a short-term loan in the amount of NIS 700 million
(approximately $187 million).
About 012
Smile.Communications
012 Smile.Communications Ltd. (Nasdaq: SMLC) is a 75.34% - owned
subsidiary of Internet Gold - Golden Lines Ltd. (Nasdaq: IGLD),
which is a subsidiary of Eurocom Communications Ltd.
In October 2009, 012 Smile.Communications signed a definitive
agreement to purchase the controlling interest (approximately
30.6%) in Bezeq, The Israel Telecommunication Corp., Israel’s
largest telecommunications provider (TASE: BZEQ).
For further information, please visit our website:
http://www.012smile.com/index.html
Forward-Looking
Statements
This press release contains forward-looking statements that are
subject to risks and uncertainties. Factors that could cause actual
results to differ materially from these forward-looking statements
include, but are not limited to risks associated with the pending
acquisition of the controlling interest in Bezeq The Israel
Telecommunication Corp. and other risks detailed from time to time
in 012 Smile.Communications’ filings with the Securities Exchange
Commission. These documents contain and identify other important
factors that could cause actual results to differ materially from
those contained in our projections or forward-looking statements.
Stockholders and other readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date on which they are made. We undertake no obligation to
update publicly or revise any forward-looking statement.
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