Cellcom Israel Announces Credit for IBC
NETANYA, Israel, March 18, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company")announced today that its indirect subsidiary IBC Israel Broadband Company (2013) Ltd.'s, or IBC, entered an agreement with an Israeli financial institution, under which IBC shall be awarded a credit line of up to NIS 350 million, to be repaid until December 31, 2032, to further its business operation, including deployment of fiber-optic infrastructure in Israel.
- NETANYA, Israel, March 18, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company")announced today that its indirect subsidiary IBC Israel Broadband Company (2013) Ltd.'s, or IBC, entered an agreement with an Israeli financial institution, under which IBC shall be awarded a credit line of up to NIS 350 million, to be repaid until December 31, 2032, to further its business operation, including deployment of fiber-optic infrastructure in Israel.
- In addition, the partnership jointly held by the Company and Israel Infrastructure Fund undertook to provide IBC with an additional investment of NIS 50 million before 2021 year end.
- Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services.
- Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel.