NETANYA, Israel, April 14, 2019 /PRNewswire/ -- Cellcom Israel
Ltd. (NYSE: CEL) (the "Company") announced today an early
repayment of a loan under the Company's August 2015 loan agreement with an Israeli bank,
provided to the Company in December
2016, in an outstanding principal amount of NIS 112 million (in addition to outstanding
accumulated interest until date of repayment). The 2015 bank loan
was one of the Company's more expensive and shorter duration debt
and its early repayment will reduce the Company's leverage and
allow accumulated saving of approximately NIS 9 million of interest expenses.
For additional details regarding the Company's existing
debentures and existing loan agreements, including the terms of the
repaid bank's August 2015 loan and
the bank's outstanding loan provided in March 2019 (according to the June 2017 loan agreement), see our most recent
annual report for the year ended December
31, 2018 on Form 20-F, filed on March
18, 2019, under "Item 5B.
Liquidity and Capital Resources – Debt Service – Public Debentures"
and "-Other Credit Facilities".
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
2.851 million cellular subscribers (as at December 31, 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.