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Partner Communications Co Ltd – ‘6-K’ for 2/27/20

On:  Thursday, 2/27/20, at 6:02am ET   ·   For:  2/27/20   ·   Accession #:  1178913-20-660   ·   File #:  1-14968

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/20  Partner Communications Co Ltd     6-K         2/27/20    1:345K                                   Z-K Global Ltd/FA

Current Report by a Foreign Issuer   —   Form 6-K   —   Rule 13a-16 / 15d-16
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Current Report by a Foreign Issuer                  HTML     32K 


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 C: 


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15a-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Report on Form 6-K dated
 
February 27, 2020

Partner Communications Company Ltd.
(Translation of Registrant’s Name Into English)
 
8 Amal Street
Afeq Industrial Park
Rosh Ha’ayin 48103
Israel
                       
(Address of Principal Executive Offices)
 
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
 
Form 20-F ☒     Form 40-F
 
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
 
Yes      No
 
(If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-               )

This Form 6-K is incorporated by reference into the Company’s Registration Statements on Form S-8 filed with the Securities and Exchange Commission on December 4, 2002 (Registration No. 333-101652), September 5, 2006 (Registration No. 333-137102), September 11, 2008 (Registration No. 333-153419), August 17, 2015 (Registration No. 333-206420), November 12, 2015 (Registration No. 333-207946), March 14, 2016 (Registration No. 333-210151) and on December 27, 2017 (Registration No. 333-222294), November 21, 2018 (Registration No. 333-228502)
 
Enclosure: Partner Communications announces issuance of Company Debentures (Series G) following exercise of option warrants (Series A)


  
PARTNER COMMUNICATIONS ANNOUNCES ISSUANCE OF
COMPANY DEBENTURES (SERIES G) FOLLOWING
EXERCISE OF OPTION WARRANTS (SERIES A)
 
ROSH HA'AYIN, Israel, February 27, 2020 - Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, announces that further to the Company's immediate reports dated April 17, 2019 and May 1, 2019, with respect to a private placement in Israel of untradeable option warrants that are exercisable for the Company's Series G debentures, and further to the Company's immediate reports dated July 1, 2019 and November 28, 2019, with respect to the exercise of option warrants of the Company (Series A), an additional 151,000 option warrants of the Company (Series A) that are exercisable for NIS 15,100,000 par value of Series G debentures of the Company, were exercised.
 
The option warrants (Series A) of Series G debentures of the Company, were exercised at a discount rate of 3.207%, and therefore the weighted discount rate for February 27, 2020 that applies to the Series G debentures (following the issuance detailed in this report) is 0.65%.
 
Standard & Poor’s Global Ratings Maalot Ltd. ("Maalot") has announced an ilA +/negative rating for the issuance of debentures in an amount of up to NIS 15.1 million par value that will be issued through an expansion of Series G debentures as part of an exercise of untradeable options. For further information, see Maalot's report dated February 27, 2020 at: https://www.maalot.co.il/Publications/495/IRPar20200227093716.pdf or its unofficial English translation attached this report.
 
NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SOUTH AFRICA OR SINGAPORE.
 
For additional details regarding the Company's Series G debentures, see the Company's Shelf Offering Report that the Company published on January 3, 2019 (on Form 6-K) at:
 
https://mayafiles.tase.co.il/rpdf/1206001-1207000/P1206884-00.pdf
the Company's press releases and immediate reports (on Form 6-K) dated April 17, 2019 at:
or https://maya.tase.co.il/reports/details/1225154 ; on May 1, 2019 at:
https://maya.tase.co.il/reports/details/1226942 and on July 1, 2019 at:
and also the Company's Annual Report on Form 20-F for the year ended December 31, 2018"Item 5B. Liquidity and Capital Resources".

About Partner Communications
Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

For more information about Partner see:

Contacts:
Chief Financial Officer
Tel: +972-54-781-4951
 
Ms. Liat Glazer Shaft
Head of Investor Relations & Corporate Projects
Tel: +972-54-781-5051

2

 

Partner Communications Co. Ltd.
 
...................................................................................
 

New Issuance
 
‘ilA+’ Rating Assigned To Bond Issuance Of
Up To NIS 15.1 Million Par Value Through A
Future Private Placement Of Options Dated
April 2019
 
Primary Credit Analyst
Tom Dar, 972-3-7539722 tom.dar@spglobal.com
 
Additional Contact
Tamar Stein, 972-3-7539721 tamar.stein@spglobal.com

Please note that this translation was made for convenience purposes and for the company's use only and under no circumstances shall obligate S&P Global Ratings Maalot Ltd. The translation has no legal status and S&P Global Ratings Maalot Ltd. does not assume any responsibility whatsoever as to its accuracy and is not bound by its contents. In the case of any discrepancy with the official Hebrew version published on February 27, 2020, the Hebrew version shall apply.
 
1         |          February 27, 2020
 New Issuance



Partner Communications Co. Ltd.

New Issuance
 
‘ilA+’ Rating Assigned To Bond Issuance Of Up To NIS
15.1 Million Par Value Through A Future Private
Placement Of Options Dated April 2019
 
S&P Maalot hereby assigns its ‘ilA+’ rating to bonds of up to NIS 15.1 million par value to be issued by Partner Communications Co. Ltd. (ilA+/Negative) through the expansion of Series G by exercising non-tradable options (see our rating report published on April 17, 2019).
 
The proceeds from the issuance will be used to refinance existing debt and for the company's ongoing activity.
 
For additional information on the rating and for other regulatory requirements, see our rating report dated August 5, 2019.
 
Rating Detail (As of 27-Feb-2020)
 
Partner Communications Co. Ltd.
 
Issuer Credit Rating(s)
 
Local Currency Long Term
ilA+/Negative
   
Issue Rating(s)
 
Senior Unsecured Debt
 
Series D, F, G
ilA+
   
Rating History
 
Local Currency Long Term
 
ilA+/Negative
ilA+/Stable
ilAA-/Stable
ilAA-/Negative
ilAA-/Watch Neg
ilAA-/Negative
ilAA-/Stable
ilAA-
ilAA-/Watch Dev
ilAA-/Watch Pos
ilAA-/Stable
ilAA-/Positive
ilAA-/Stable
ilAA-
ilA+
ilA
   
Other Details
 
Time of the event
09:30 27/02/2020
Time when the analyst first learned of the event
09:30 27/02/2020
Rating requested by
Issuer

2          |          February 27, 2020
 New Issuance

Partner Communications Co. Ltd.

Credit Rating Surveillance
 
S&P Maalot is the commercial name of S&P Global Ratings Maalot Ltd. S&P Maalot conducts surveillance activities on developments which may affect the creditworthiness of issuers and specific bond series which it rates, on an ongoing basis. The purpose of such surveillance is to identify parameters which may lead to a change in the rating.
 
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3          |          February 27, 2020
 New Issuance

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
Partner Communications Company Ltd.
 
 
 
 
 
 
By:
 
 
 
 
 
 
Title: Chief Financial Officer
 

Dated: February 27, 2020

3

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘6-K’ Filing    Date    Other Filings
Filed on / For Period end:2/27/20
11/28/19
8/5/196-K
7/1/196-K
5/1/196-K
4/17/196-K
1/3/196-K
12/31/1820-F
11/21/186-K,  S-8
12/27/176-K,  S-8
3/14/1620-F,  6-K,  S-8
11/12/156-K,  S-8
8/17/15S-8
7/28/15
6/20/136-K
12/6/126-K
9/10/126-K
10/19/106-K
10/5/096-K
9/17/096-K
7/14/09
3/24/096-K
10/28/086-K
9/11/08S-8
9/25/076-K
3/20/076-K
9/5/06S-8
7/28/046-K
2/16/046-K
8/1/03
12/4/02S-8
 List all Filings 


2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 6/01/21  Partner Communications Co. Ltd.   6-K         6/01/21    1:351K                                   Z-K Global Ltd./FA
11/27/20  Partner Communications Co. Ltd.   6-K        11/27/20    1:221K                                   Z-K Global Ltd./FA
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Filing Submission 0001178913-20-000660   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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