Release Details

Immediate Report - Publication of prospectus and listing for trading of the Company’s debentures (Series 11 and 12)

April 7, 2020

Immediate Report

Publication of Prospectus and Listing for Trading of the Company’s Debentures (Series 11 and 12)

 

  1. Tel Aviv, Israel – April 7, 2020– Bezeq The Israel Telecommunication Corp., Ltd. (TASE: BEZQ), reports the publication of the Company’s prospectus of listing for trading, release of restrictions and a shelf prospectus, dated April 8, 2020 (“the Prospectus”). Attention is drawn that in Chapter 6 of the Prospectus, updates are included to the Chapter, Description of the Company's Business, included in the Company’s 2019 Annual and Periodic Report that was published on March 19, 2020.
  1. Further to section 2.1.2 of the Prospectus and in accordance with the provisions of section 3.2(E) of the Deeds of Trust of the Company’s Debentures (Series 11 and 12) dated July 10, 2019, which was attached as Appendix A to Chapter 2 of the Prospectus (“Debentures” and “Deeds of Trust”, as applicable), the Company hereby announces that the Debentures will be listed for trading on the main board of the Tel-Aviv Stock Exchange Ltd (“TASE”), according to the following timetable:

Event

Date

The Date of Record for one-time payment (“the Date of Record”)[1]

April 16, 2020

Last trading day of the Debentures on the TASE’s TACT Institutional System and the date of the one-time payment as stated in section ‎4 below (“Payment Date”)

April 22, 2020

Date of Cessation of Trading of the Debentures on the TASE’s TACT Institutional System (“Date of Cessation of Trading”)[2]

April 23, 2020

Date of delisting the Debentures from trading on the TASE’s TACT Institutional System, date of listing the Debentures for trading on the TASE main board and the date of commencement of trading of the Debentures on the TASE main board (“Date of Listing for Trading on the Main Board”)

April 26, 2020

  1. Until the Date of Listing of the Debentures for Trading on the Main Board, the Company’s Debentures (Series 11) will bear annual unlinked interest of 3.6%, and the Company’s Debentures (Series 12) will bear fixed annual interest of 2.1% linked to the Consumer Price Index as detailed in section 2.1.3.4 of the Prospectus.
  1. Accordingly, the one-time payment of the interest for the balance of the unpaid principal of the Company’s Debentures (Series 11) and the unpaid principal of the Company’s Debentures (Series 12), for the period commencing from the last date of payment of interest, namely December 1, 2019, and ending on the Date of Listing for Trading on the Main Board, will be at a rate of 1.44986% and 0.84575% respectively.
  1. From their Date of Listing for Trading on the Main Board, the annual interest rate of the Debentures will be reduced by 0.4%, such that the Company’s Debentures (Series 11) will bear from that date fixed annual interest of 3.2% (unlinked), and the Company’s Debentures (Series 12) will bear from that date fixed annual interest of 1.7% linked to the Consumer Price Index as detailed in section 2.1.3.4 of the Prospectus[3].
  1. Accordingly, the first reduced interest that will be paid to holders of the Company’s Debentures (Series 11) and holders of the Company’s Debentures (Series 12) for the period from their Date of Listing for Trading on the Main Board until the next interest Payment Date, namely June 1, 2020, will be at a rate of 0.31562% and 0.16767%, respectively).  

                                                                

                                        

The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.

 

[1]     The entitlement to the one-time payment as stated in section ‎4 below will be determined according to a Debentures holder’s holdings as of the Date of Record.

[2]      On the Date of Cessation of Trading the Debentures will be deposited with the Registration Company of Bank Hapoalim Ltd and an Immediate Report will be published (Reporting Form 087T) concerning the transfer of the Debentures from listing for trading on the TASE’s TACT Institutional System to listing for trading on the TASE Main Board.

[3]       The interest rate that will be paid for a given interest period, namely the period from the beginning of the first day following the end of the immediately prior interest period and ends on the last day before the next Payment Date after the start date, will be calculated as the annual interest rate divided by 2 (“Half-Yearly Interest Rate”), whereby the Company's Debentures (Series 11) will bear fixed half-yearly interest of 1.6% (unlinked), and the Company's Debentures (Series 12) will bear fixed half-yearly interest of 0.85% linked to the Consumer Price Index  as detailed in section 2.1.3.4 of the Prospectus.

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