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B Communications closes USD800m senior secured notes offering due 2021

B Communications Ltd. (NASDAQ: BCOM) said it has successfully closed a private offering of USD800m of 7⅜% senior secured notes due 2021.

The notes were offered and sold in the United States to qualified institutional buyers and to certain qualifying investors in offshore transactions, including in Israel.

The notes are senior obligations of B Communications and are guaranteed by its two wholly-owned subsidiaries, B Communications (SP1) Ltd. and B Communications (SP2) Ltd. (SP2), on a senior secured basis.

The notes have been admitted for trading on the system of the Tel Aviv Stock Exchange for trading by institutional investors, known as TACT Institutional.

B Communications said it will use the net proceeds from the offering to repay all amounts outstanding under the loans it incurred to acquire its controlling interest in Bezeq and to deposit funds into a debt service account.

B Communications is a telecommunications-oriented holding company and its primary holding is its controlling interest in Bezeq (BEZQ.TA), Israel´s largest telecommunications provider.


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