Cellcom Israel Ltd. Announces Preparations To Raise Debt In Israel
NETANYA, Israel, June 2, 2014 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced that its Board of Directors has instructed the Company to commence preparations for raising debt by offering to the public, in Israel only, two new series of debentures. In preparation to the potential offering of debentures the Company published to the public in Israel a draft indenture.
The execution, timing, terms and amount of such contemplated offering have not yet been determined and are subject to further approval of the Company's Board of Directors, publication of a shelf prospectus and a supplemental offering report and the prior approval of the Israeli Securities Authority and the Tel Aviv Stock Exchange, or TASE, for the publication of the shelf prospectus and the TASE's for the supplemental offering report. There is no assurance that such offering will be executed, nor as to its timing, terms and amount.
For additional details regarding the Company's debentures see the Company's annual report for the year ended December 31, 2013 on Form 20-F dated March 6, 2014 under "Item 5B. Liquidity and Capital Resources – Debt Service".
The contemplated offering described in this press release, will be made, if made, in Israel to residents of Israel only. The said debentures will not be registered under the U.S. Securities Act of 1933 and will not be offered or sold in the United States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any debentures.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 3.049 million subscribers (as at March 31, 2014) with a broad range of value added services including cellular and landline 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. The Company operates an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for hearing impaired, etc. Cellcom Israel further provides through its wholly owned subsidiaries internet connectivity services and international calling services, as well as landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website www.cellcom.co.il
Company Contact Shlomi Fruhling Chief Financial Officer Tel: +972 52 998 9755 |
Investor Relations Contact Ehud Helft GK Investor & Public Relations In partnership with LHA Tel: +1 617 418 3096 |
SOURCE Cellcom Israel Ltd.
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