B Communications Ltd. (NASDAQ and TASE: BCOM) has announced a private placement of NIS 118m par value of its Series C Debentures to Israeli institutional investors for an aggregate consideration of approximately NIS 118m (approximately USD 31m).
The private placement was carried out as an increase to the outstanding Series C Debentures of B Communications, which were first issued in September 2016 and have identical terms.
The issuance of the newly issued Series C Debentures is subject to: (a) the approval of Midroog Ltd., an Israeli rating company affiliated with Moody´s, that the issuances will not cause a reduction in the Series C Debentures´ Aa3.il rating; and (b) the listing of the additional debentures for trade on the Tel Aviv Stock Exchange; (c) the approval of the Israeli Tax Authority for a formula for calculating the adjusted discount rate for all Series C Debentures, for tax purposes.
The company expects such approvals soon.
B Communications provides various communications services for business and private customers in Israel. The company offers fixed-line telephony, fixed-line broadband Internet infrastructure access, Internet service provider, cellular telephony, international telephony, international and domestic data transfer and network, information and communication technology, pay television, multi-channel television, radio, satellite, and customer call center services, as well as other communications infrastructures and services.
The company was founded in 1999 and is headquartered in Ramat Gan, Israel. It operates as a subsidiary of Internet Gold Golden Lines Ltd.