Partner Communications company Ltd. (NASDAQ and TASE: PTNR), an Israeli communications operator, has announced that the company entered into an agreement with certain Israeli institutional investors, according to which the company irrevocably undertook to issue to the institutional investors, and the institutional investors irrevocably undertook to purchase from the company, in the framework of a private placement, in an aggregate principal amount of NIS 150 million of additional Series F debentures on December 4, 2018, the company said.
The company´s existing Series F debentures are listed on the Tel Aviv Stock Exchange (“TASE”).
The price was set at NIS 1.003 for each Series F debenture (which bear a stated interest rate of 2.16% per annum) of NIS 1 par value, or a total consideration of NIS 150.45 million, reflecting an effective yield of 2.366% per annum. In addition, the company will pay the institutional investors an early commitment fee. In case the debentures´ rating on the Agreed Date shall be il/(A-) or below, a discount of approximately 1% on the price of the debenture will be given.