Partner Communications Company Ltd. (NASDAQ:PTNR)(TASE:PTNR), an Israeli communications operator, has executed early repayments of 4 loans (loans C, D, E and F) to commercial banks in a principal amount of NIS 500 million, the company said.
In connection with the Early Repayments, the company will record a one-time expense of NIS 21 million in Q2 2017 results.
The Early Repayments will enable accumulated savings of approximately NIS 38 million of interest costs.
In addition to the Early Repayments, the company is planning on early repayments of additional loans over the next coming months in an amount of approximately NIS 380 million. This is in addition to repayments of approximately NIS 490 million of notes and loans scheduled in 2017 as part of the company´s payment schedule.
Partner is an Israeli provider of telecommunications services (cellular, fixed-line telephony and internet services).