Cellcom Israel Announces Credit for IBC
CELLCOM ISRAEL (CEL)
US:NYSE Investor Relations:
investors.cellcom.co.il
Company Research
Source: PR Newswire
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. The agreement includes customary commercial terms and conditions. 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.For additional details see our annual report on form 20-F dated March 18, 2019 under "Item 4. Information on the Company – B. Business Overview – Network and Infrastructure – Fixed-line Segment – Fixed-line Infrastructure – Investment in IBC".About Cellcom Israel Cellcom Israel Ltd., estab
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