CELLCOM
ISRAEL LTD. ANNOUNCES NIS 600 MILLION RAISED BY PRIVATE
OFFERING
OF
DEBENTURES IN ISRAEL
Netanya,
Israel – February
3,
2008
– Cellcom
Israel Ltd. (NYSE: CEL) (the "Company") announced that further to its
announcement of January 27, 2008, in regards to preparations for a private
offering by issuing additional debentures from the existing Series C and/or
Series D debentures, which are listed on the Tel Aviv Stock Exchange, or
TASE,
the Company accepted today (subject to the TASE's approval) the orders for
NIS
81 million aggregate principal amount of additional Series C debentures and
approximately NIS 493.8 million aggregate principal amount of additional
Series
D debentures, for a total consideration of NIS 600 million.
The
price
was set at NIS 104.3 for each Series C debenture of NIS 100 principal amount
and
NIS 104.4 for each Series D debenture of NIS 100 principal amount, reflecting
a
yield to maturity of 3.85% and 4.84%, respectively. Accordingly, the debentures
will be issued at a premium over the adjusted principal amount of the debentures
(reflecting accumulated interest and adjustments for changes in the Israeli
consumer price index) and with no discount.
For
additional details in regards to the existing debentures, see our reports
on
Form 6-K filed on September 23 and October 1 and 3, 2007.
The
offering described in this press release, was 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 leading Israeli cellular provider;
Cellcom Israel provides its 3 million subscribers 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 the fastest high speed content transmission
available in the world, in addition to GSM/GPRS/EDGE and TDMA 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 its customers technical support, account information,
direct to the door parcel services, internet and fax services, dedicated
centers
for the hearing impaired, etc. In April 2006 Cellcom Israel, through Cellcom
Fixed Line Communications L.P., a limited partnership wholly-owned by Cellcom
Israel, became the first cellular operator to be granted a special general
license for the provision of 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
http://investors.ircellcom.co.il
|
Company
Contact
Shiri
Israeli
Investor
Relations Coordinator
investors@cellcom.co.il
Tel:
+972 52 998 9755
|
Investor
Relations Contact
Ehud
Helft / Ed Job
CCGK
Investor Relations
ehud@gkir.com
/ ed.job@ccgir.com
Tel:
(US) 1 866 704 6710 / 1 646 213
1914
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