Key Developments For HEVRAT PARTNER TIKSHORET BE`AM
HEVRAT PARTNER TIKSHORET BE`AM (PTNR.O) (Nasdaq)
Partner Communications Company Ltd. Announces Results of a Private Placement of Notes in Israel
Partner Communications Company Ltd. announced that it has agreed with Israeli institutional investors to issue approximately NIS 448 million of unsecured non convertible Series B notes through a private placement in Israel. The principal amount of Series B Notes will be repayable in four equal annual installments between 2013 and 2016 and will bear interest at an annual rate of 3.4%.
Partner Communications Company Ltd. Receives Lawsuit Requesting Certification As Class Action
Partner Communications Company Ltd. announced that it was served with a lawsuit requesting certification as a class action, filed against Partner, Pelephone Communications Ltd, Cellcom Israel Ltd. (all together: the Cellular Operators) and the Minister of Communication in the District Court of Jerusalem. The claim alleges that the Cellular Operators discriminate against the non-religious subscribers by not offering them certain tariffs and terms that are offered to the religious sector. If the lawsuit is certified as a class action, the total amount claimed from the Defendants is estimated by the plaintiffs to be approximately NIS 900 million (for all Defendants together). Partner is reviewing and assessing the lawsuit and at this preliminary stage is unable to evaluate the probability of success of the lawsuit or the range of potential exposure, if any, with any degree of certainty.
Partner Communications Company Ltd. Announces Its Intention To Issue Notes Through Private Placement In Israel
Partner Communications Company Ltd. announced that it is initiating a process to raise approximately NIS360 million through a private placement of up to two series of unsecured non-convertible Series B and Series C notes (collectively, the Notes) to institutional investors in Israel (Offering). The final amount that may be raised will be determined based on the results of the tender. Series B notes will not be linked (principal and interest) to any currency or index. The principal amount of Series B Notes is expected to be repayable in four equal annual installments between 2012 and 2015 and bear interest at an annual rate of 5.5% until the listing of Series B Notes for trade on the Tel Aviv Stock Exchange (TASE). Series C notes will be linked (principal and interest) to increases to the Israeli consumer price index. The principal amount of Series C Notes is expected to be repayable in four equal annual installments between 2013 and 2016 and bear interest at an annual rate of 4% until the listing of Series C Notes for trade on the TASE. The interest rate to be borne by Series B Notes and Series C Notes following their listing for trade on the TASE will be determined in a tender to institutional investors in Israel which is expected to take place on or about November 25, 2009. Partner intends to use the proceeds from the Offering for the refinancing of its debt and/or as a substitute for bank financing for the payment of dividend resulting from a planned capital reduction.
Partner Communications Company Ltd. Company Ltd. Comments On Q4 2009 Net Profit Outlook; Announces Dividend Distribution Of NIS 1.94 Per Share For The Third Quarter Of 2009
Partner Communications Company Ltd. expects the gap in profitability for the fourth quarter of 2009 compared with the parallel quarter of 2008 to be more moderate than it was in the third quarter. According to Reuters Estimates, analysts were expecting the Company to report net profit of $291 million for the same period. The Company also announced that its Board of Directors approved the distribution of a dividend for the third quarter of 2009 of NIS1.94 (USD0.52) per share or ADS (in a total of approximately NIS300 million or USD80 million) to shareholders and ADS holders of record on November 25, 2009. The dividend is expected to be paid on December 10, 2009.
Partner Communications Company Ltd. Announces Mr. Ilan Ben-Dov Will Serve As Chairman
Partner Communications Company Ltd. announced that Mr. Ilan Ben-Dov will serve as Chairman of the Board of Directors.
