By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – B Communications Ltd. said it received binding commitments to sell NIS 1.85 billion of its series C debentures due November 2024 to institutional investors.
The annual coupon of 3.6% was set in the tender. That coupon will be the maximum coupon in the Israeli public tender for the debentures, expected to be held on Sept. 18, according to a press release.
The company said it will limit acceptance of offers in the public tender to NIS 150 million, such that total proceeds of the offering will not exceed NIS 2 billion.
Proceeds will be used to redeem the company’s outstanding dollar-denominated senior notes and will strengthen the company’s balance sheet.
Ramat Gan, Israel-based B Communications holds a controlling interest in Bezeq, Israel's incumbent telecommunications provider.
| Issuer: | B Communications Ltd.
|
| Issue: | Series C debentures
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| Amount: | NIS 1.8 billion to institutional investors
|
| Maturity: | March 31, 2019
|
| Coupon: | 3.6%
|
| Rating: | Midroog: Aa3
|
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