Debt Investors

Domestic Credit Ratings

Rating Agency Debt Rating Outlook Reports (Hebrew)
S&P Global Ratings Maalot ilAA Stable Report
Midroog (a Moody's affiliate) Aa2.il Stable Report

Bezeq is followed by the analysts listed above. Any opinions, estimates or forecasts regarding Bezeq's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Bezeq or its management. Bezeq does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Bezeq Group Financial Debt

NIS billions

Debt graph

Debt Terms (NIS millions, as of December 31, 2023)

Source Principal Currency Linkage Type of Interest Average Interest Rate Interest Rate Range in 2023
Banks 799 NIS Unlinked Fixed 3.62% 3.20% - 4.95%
Banks 700 NIS Unlinked Variable, based on the prime interest rate 6.71% 5.78 - 6.78%
Non-bank sources 3,070 NIS Unlinked Fixed 3.06% 2.79% - 4.00%
Non-bank sources 2,504 NIS CPI Fixed 1.40% 0.58% - 2.20%

Summary of Financial Undertakings as of December 31, 2023 (based on repayment dates)

NIS millions

Notes Issued to the Public (Bezeq Fixed-Line)

Year CPI Linked Unlinked Interest Total Principal and Interest
First year 295,247 532,490 117,277 945,014
Second year 295,247 532,490 91,345 919,082
Third year 278,646 166,953 60,374 505,973
Fourth year 278,646 166,953 50,295 495,894
Fifth year and therafter 1,356,389 930,900 133,949 2,421,238
Total 2,504,175 2,329,786 453,240 5,287,201

Private Notes and Other Non-Bank Credit (Bezeq Fixed-Line)

Year CPI Linked Unlinked Interest Total Principal and Interest
First year - 45,000 25,267 70,267
Second year - 130,000 23,186 153,186
Third year - 170,000 18,429 188,429
Fourth year - 170,000 12,577 182,577
Fifth year and thereafter - 225,000 12,281 237,281
Total - 740,000 91,740 831,740

Credit from Israeli Banks (Bezeq Fixed-Line)

Year CPI Linked Unlinked Interest Total Principal and Interest
First year - 186,000 71,483 257,483
Second year - 146,000 66,549 212,549
Third year - 243,500 62,333 305,833
Fourth year - 143,500 55,683 199,183
Fifth year and thereafter - 780,000 108,087 888,087
Total - 1,499,000 364,135 1,863,135

Total Debt - Bezeq Fixed-Line

Year CPI Linked Unlinked Interest Total Principal and Interest
First year 295,247 763,490 214,027 1,272,764
Second year 295,247 808,490 181,080 1,284,817
Third year 278,646 580,453 141,136 1,000,235
Fourth year 278,646 480,453 118,555 877,654
Fifth year and thereafter 1,356,389 1,935,900 254,317 3,546,606
Total 2,504,175 4,568,786 909,115 7,982,076
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