Cellcom sets debenture placement, deferred loan

|About: Cellcom Israel, Ltd. (CEL)|By:, SA News Editor

Cellcom Israel (CEL +2.2%) has announced a private debenture placement along with a deferred loan agreement.

Institutional investors will purchase about 220M shekels (about $62M) in additional series K debentures on July 1, 2018. The price for each 1-shekel principal was set at 1.011 shekels, with an interest rate of 3.55%.

Meanwhile, the company has obtained an agreement for a loan of 150M shekels in March 2019, with annual fixed interest at 4%. Terms and obligations are similar to those in an August 2015 loan agreement from the same lender, Cellcom says.

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