SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/06/20 Partner Communications Co Ltd 6-K/A 7/06/20 1:209K Z-K Global Ltd/FA |
Document/Exhibit Description Pages Size 1: 6-K/A Amendment to Report by a Foreign Issuer HTML 38K
1. |
The Series F Debentures were initially issued by the Company pursuant to a shelf offering memorandum dated July 19, 20171 (“Series F Debentures,” “the
Shelf Offering Memorandum for the Series F Debentures,” respectively). As of the date hereof, the balance of the Series F Debentures in circulation (subsequent to expansions) total NIS 816,626,400 par value of Series F
Debentures.
|
2. |
Pursuant to the deed of trust for the Series F Debentures, which was attached as Appendix A to the Shelf Offering Memorandum for the Series F Debentures, the Company may, in its sole discretion, execute a full or partial early
redemption of the Series F Debentures.
|
1 |
Reference no.: 2017-02-062050.
|
3. |
Pursuant to the provisions of clause 10.2 of the Deed of Trust for the Series F Debentures, in the event of an early redemption at the Company’s option, the amount to be paid to the holders of the Series F Debentures shall be the
greater of the following: (1) the market value of the balance of the debentures being redeemed by way of early redemption, which shall be determined according to the average closing price of the debentures during the thirty (30) trading
days preceding the date on which the board of directors passed a resolution regarding the execution of the early redemption and, in the event that the early redemption is executed on the record date for an interest payment, the sum
equivalent to the sum of the interest payable on that date in respect of that same debenture shall be deducted from the average value of the debenture as stated; (2) the liability value of the debentures in circulation designated for
early redemption; i.e., principal plus interest, up until the actual early redemption date; (3) the balance of the cash flow of the debentures designated for early redemption (principal plus interest), discounted according to the yield on
the government bond2 plus interest at the rate of 1% per annum; the discounting of the debentures designated for early redemption shall be calculated as of the early redemption date and until the last payment date specified in
relation to the debentures designated for early redemption.
|
2 |
In this regard: “yield on the government bond” means: weighted average of the gross yield to maturity, during a period of seven business days ending two business days prior to the announcement
date of the Early Redemption, of two series of unlinked government bonds bearing fixed interest and with an average duration that is closest to the average duration of the Series F Debentures on the relevant date. In other words, one
series with the closest average duration that is longer than the average duration of the Series F Debentures on the relevant date, and one series with the closest average duration that is shorter than the average duration of the Series
F Debentures on the relevant date and when, upon weighting, will reflect the average duration of the Debentures on the relevant date.
|
4. |
On the Early Redemption Date, the Company shall pay to the holders of the Series F Debentures the sums of principal, interest and an additional payment in respect of the Early Redemption as specified hereunder:
|
Principal of the Series F Debentures that shall be paid in the Early Redemption
|
305,020,525
|
The accrued interest in respect of the said principal up until the Early Redemption Date including for the aforementioned discounting in alternative (3) above
|
8,079,475
|
Rate of the partial redemption in terms of the outstanding balance
|
37.35129%
|
Rate of the partial redemption in terms of the original series (including expansions)
|
29.88103%
|
Interest rate to be paid on the portion being redeemed in the partial redemption
|
2.64883%
|
Interest rate to be paid in the partial redemption, calculated in relation to the outstanding balance (after the redemption)
|
1.57924%
|
Total rates of the remaining partial redemptions, in terms of the original series (including expansions)
|
50.11897%
|
Total for payment
|
313,100,000
|
5. |
Pursuant to the provisions of the regulations of the Tel-Aviv Stock Exchange Ltd. (“the TASE”), the parties eligible for the Early Redemption shall be whoever holds Series F Debentures at the
close of the trading day on July 13, 2020.
|
6. |
The TASE members shall deduct the duly required withholding tax from the payments of the Early Redemption.
|
7. |
Following is the updated repayment schedule of the Series F Debentures subsequent to the execution of the partial Early Redemption:
|
Payment date
|
Payment of principal par value
|
Payment of interest
|
Outstanding balance of principal (par value) subsequent to the redemption
|
Interest rate on the outstanding balance prior to the redemption
|
Redemption ratio out of the original balance of principal
|
Redemption ratio out of the balance of the debenture principal on the report date
|
-
|
5,525,343.45
|
511,605,875.00
|
0.68%
|
|
||
127,901,469
|
5,525,343.45
|
383,704,406.25
|
0.68%
|
12.52974%
|
16%
|
|
-
|
4,144,007.59
|
383,704,406.25
|
0.51%
|
|
||
127,901,469
|
4,144,007.59
|
255,802,937.50
|
0.51%
|
12.52974%
|
16%
|
|
-
|
2,762,671.73
|
255,802,937.50
|
0.34%
|
|
||
127,901,469
|
2,762,671.73
|
127,901,468.75
|
0.34%
|
12.52974%
|
16%
|
|
-
|
1,381,335.86
|
127,901,468.75
|
0.17%
|
|
||
127,901,469
|
1,381,335.86
|
-
|
0.17%
|
12.52974%
|
16%
|
8. |
The sum of the Early Redemption shall be paid at the same rate and at the same price to each of the holders of the Series F Debentures.
|
Mr. Tamir Amar
CFO
Tel: +972 (54) 781-4951
|
Ms. Liat Glazer Shaft
Head of Investor Relations
Tel: +972 (54) 781-5051
Email: investors@partner.co.il
|
|
Partner Communications Company Ltd.
|
|
|
|
|
|
|
By:
|
/s/ Tamir Amar
|
|
|
|
|
Name: Tamir Amar
|
|
|
|
Title: Chief Financial Officer
|
|
This ‘6-K/A’ Filing | Date | Other Filings | ||
---|---|---|---|---|
6/25/24 | ||||
12/25/23 | ||||
6/25/23 | ||||
12/25/22 | ||||
6/25/22 | ||||
12/25/21 | ||||
6/25/21 | ||||
12/25/20 | ||||
7/20/20 | ||||
7/13/20 | ||||
Filed on / For Period end: | 7/6/20 | |||
7/3/20 | ||||
7/1/20 | 6-K, 6-K/A | |||
11/21/18 | 6-K, S-8 | |||
12/27/17 | 6-K, S-8 | |||
7/19/17 | 6-K | |||
3/14/16 | 20-F, 6-K, S-8 | |||
11/12/15 | 6-K, S-8 | |||
8/17/15 | S-8 | |||
9/11/08 | S-8 | |||
9/5/06 | S-8 | |||
12/4/02 | S-8 | |||
List all Filings |