NETANYA, Israel, Dec. 6, 2018 /PRNewswire/ -- Cellcom Israel
Ltd. (NYSE: CEL) (TASE: CEL) (the "Company") announced today
that following the previously reported preparation for a
potential offering of debentures in an aggregate amount of
approximately NIS 300 million, to the
public in Israel only, the Company
completed the institutional stage of the offering. In light of the
demand, the Company decided to increase the offering amount to an
aggregate of approximately NIS 400
million principal amount. In the institutional tender the
Company received early commitments from institutional investors in
Israel for the purchase of
approximately NIS 187 million
principal amount of series K debentures and approximately
NIS 213 million principal amount of
series L debentures in the offering.
In addition, Standard & Poor's Maalot reaffirmed an
ilA+/stable rating for such potential offering of debentures of up
to NIS 400 million aggregate
principal amount.
The execution, timing, terms and amount of such contemplated
offering are subject to further approval of the Company's Board of
Directors, publication of a supplemental offering report and the
prior approval of the Tel Aviv Stock Exchange of the supplemental
offering report. There is no assurance that such offering will be
executed, nor as to its timing, terms or amount.
For additional details regarding the Company's debentures, see
the Company's annual report on Form 20-F for the year ended
December 31, 2017, filed on
March 26, 2018, under "Item
5B. Liquidity and Capital Resources –
Debt Service", and the Company's current reports on Form 6-K dated
August 16, 2018, under "Debentures,
Material Loans and Financial Liabilities", and December 4, 2018.
The contemplated offering described in this press release
will be made, if made, only in Israel and only to residents of Israel. The said securities will not be
registered under the U.S. Securities Act of 1933 and will not be
offered or sold in the United
States. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any
securities.
A security rating is not a recommendation to buy, sell or
hold securities, it may be subject to revision or withdrawal at any
time by the assigning rating organization, and each rating should
be evaluated independently of any other rating.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli
communications group, providing a wide range of communications
services. Cellcom Israel is the largest Israeli cellular provider,
providing its approximately 2.825 million cellular subscribers (as
at September 30, 2018) with a
broad range of services including cellular telephony, roaming
services for tourists in Israel
and for its subscribers abroad, text and multimedia messaging,
advanced cellular content and data services and other value-added
services in the areas of music, video, mobile office etc., based on
Cellcom Israel's technologically advanced infrastructure. The
Company operates an LTE 4 generation network and an HSPA 3.5
Generation network enabling advanced high speed broadband
multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom
Israel offers Israel's broadest
and largest customer service infrastructure including telephone
customer service centers, retail stores, and service and sale
centers, distributed nationwide. Cellcom Israel further provides
OTT TV services, internet infrastructure and connectivity services
and international calling services, as well as landline telephone
services in Israel. Cellcom
Israel's shares are traded both on the New York Stock Exchange
(CEL) and the Tel Aviv Stock Exchange (CEL). For
additional information please visit the Company's website
http://investors.cellcom.co.il.
Company
Contact
Shlomi
Fruhling
Chief Financial
Officer
investors@cellcom.co.il
Tel: +972 52 998
9735
|
Investor Relations
Contact
Ehud Helft
GK Investor &
Public Relations In partnership with LHA
cellcom@GKIR.com
Tel: +1 617 418
3096
|
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SOURCE Cellcom Israel Ltd.