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Cellcom Israel Announces ilAA/stable Rating Assigned for Additional Debentures to be Traded in Israel
NETANYA, Israel, March 24, 2011/PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the
"Company"), announced today that following its previously announced possible
debt raising in Israel, Standard & Poor's Maalot announced it assigned an
ilAA/stable rating to additional debentures of up to NIS 1.5 billion that the
Company may issue of Series D and E debentures to be traded, if issued, on
the Tel Aviv Stock Exchange.
At this stage, no decision has been made as to the execution
of such possible issuance, nor as to its scope, terms and timing, if
executed, and there is no certainty that such issuance will be executed. The
issuance, if made, will be made in Israel to residents of Israel only. The
said debentures, if issued, will not be registered under the U.S. Securities
Act of 1933 and will not be offered or sold in the United States or to U.S.
persons. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any debentures.
A security rating is not a recommendation to buy, sell or hold
securities, it may be subject to revision or withdrawal at any time by the
assigning rating organization, and each rating should be evaluated
independently of any other rating.
For additional details of the Company's Israeli shelf
prospectus and public debentures, see the Company's annual report for the
year ended December 31, 2010 on Form 20-F, under "Item 5 - Operating and
Financial Review and Prospects - B. Liquidity and Capital Resources - Debt
Service" and the Company's immediate report on Form 6-K filed on March 21,
2011 regarding the Company's possible debt raising.
About Cellcom
Cellcom Israel Ltd., established in 1994, is the leading
Israeli cellular provider; Cellcom Israel provides its approximately 3.394
million subscribers (as at December 31, 2010) 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 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. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides 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://www.cellcom.co.il
Company Contact
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
IR Contacts
Porat Saar & Kristin Knies
CCG Investor Relations Israel & US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
Company Contact: Yaacov Heen, Chief Financial Officer, investors@cellcom.co.il, Tel: +972-52-998-9755; IR Contacts: Porat Saar & Kristin Knies, CCG Investor Relations Israel & US, cellcom@ccgisrael.com, Tel: +1-646-233-2161
Cellcom Israel Announces ilAA/stable Rating Assigned for Additional Debentures to be Traded in Israel
NETANYA, Israel, March 24, 2011/PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the
"Company"), announced today that following its previously announced possible
debt raising in Israel, Standard & Poor's Maalot announced it assigned an
ilAA/stable rating to additional debentures of up to NIS 1.5 billion that the
Company may issue of Series D and E debentures to be traded, if issued, on
the Tel Aviv Stock Exchange.
At this stage, no decision has been made as to the execution
of such possible issuance, nor as to its scope, terms and timing, if
executed, and there is no certainty that such issuance will be executed. The
issuance, if made, will be made in Israel to residents of Israel only. The
said debentures, if issued, will not be registered under the U.S. Securities
Act of 1933 and will not be offered or sold in the United States or to U.S.
persons. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any debentures.
A security rating is not a recommendation to buy, sell or hold
securities, it may be subject to revision or withdrawal at any time by the
assigning rating organization, and each rating should be evaluated
independently of any other rating.
For additional details of the Company's Israeli shelf
prospectus and public debentures, see the Company's annual report for the
year ended December 31, 2010 on Form 20-F, under "Item 5 - Operating and
Financial Review and Prospects - B. Liquidity and Capital Resources - Debt
Service" and the Company's immediate report on Form 6-K filed on March 21,
2011 regarding the Company's possible debt raising.
About Cellcom
Cellcom Israel Ltd., established in 1994, is the leading
Israeli cellular provider; Cellcom Israel provides its approximately 3.394
million subscribers (as at December 31, 2010) 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 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. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides 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://www.cellcom.co.il
Company Contact
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
IR Contacts
Porat Saar & Kristin Knies
CCG Investor Relations Israel & US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
Company Contact: Yaacov Heen, Chief Financial Officer, investors@cellcom.co.il, Tel: +972-52-998-9755; IR Contacts: Porat Saar & Kristin Knies, CCG Investor Relations Israel & US, cellcom@ccgisrael.com, Tel: +1-646-233-2161