Cellcom Israel offers private debentures in Israel

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) has accepted orders from certain institutional investors for approximately NIS246 million aggregate principal amount of additional Series I debentures, for a total consideration of NIS250 million, the company said.

The price was set at NIS101.5 for each Series I debenture of NIS 100 principal amount, reflecting an effective interest of 4.06 percent per annum. Accordingly, the debentures series I will be issued at a premium over the adjusted principal amount of the debentures (reflecting accumulated interest).

The closing of the private offering is subject to the receipt of the Tel Aviv Stock Exchange´s approval.

Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 2.835 million cellular subscribers (as at December 31, 2015) with a broad range of value added services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel´s technologically advanced infrastructure.