B Communications nears completion of senior secured notes repurchase program

B Communications Ltd. (NASDAQ and TASE: BCOM) has almost completed the purchase of USD50 million of its 7 3/8 percent senior secured notes, the company said.

The company also announced that its board of directors has approved an extension of the notes repurchase program and a USD50 million increase in the size of program.

The notes may be repurchased from time to time on the TACT Institutional market or on the OTC, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.

From September 30, 2015 through January 20, 2016, the company, through a wholly owned subsidiary, purchased USD28 million par value of the notes. The total par value repurchased from August 2014 through January 20, 2016 is USD43.3 million.

B Communications is a holding company with a controlling interest in Israel-based telecommunications provider, Bezeq, The Israel Telecommunication Corp. (TASE: BEZQ).