PETACH TIKVA, Israel, September 23 /PRNewswire-FirstCall/ -- Internet Gold (NASDAQ NMS: IGLD) ("The Company") - The Company announced today that further to the draft prospectus that was published in Israel on September 18, 2007, for the public offering of debentures (Series B), the Company completed today the institutional investor tender stage ("Institutional Tender Stage") of the debenture issuance. The Company previously filed a draft prospectus with the Israel Securities Authority with respect to the proposed sale of NIS 423 million (approximately ($ 104 million) of Debentures (Series B) which are being offered exclusively in Israel to Israeli residents.
During the Institutional Tender Stage the Company received early commitment offers for the purchase of 498,224 units, for a total face value of NIS 485 million (approx. $119 million).
Following the Institutional Tender Stage the Company accepted orders for 360,700 units with a total face value of NIS 352 million (approx. 87 million). The Unit price determined following the Institutional Tender Stage was NIS 972
The Company intends to offer to the Israeli public a total of 423,000 units, including the 360,700 units issued to the institutional investors, each unit NIS 1000 par value, for a total face value of NIS 972 per unit, based on a unit price, determined by means of tender, but which will not be lower than NIS 970
The Company's management is very pleased with the results and with the high demand that surpassed the offered units. The tender was managed by Apex Underwriting and Issue Management Ltd.
The Debentures to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons, absent registration or an applicable exemption from registration requirements.
About Internet Gold
Internet Gold is one of Israel's leading communications groups with a major presence across all Internet-related sectors. Its 100% owned subsidiary, 012 Smile.Communications Ltd., is one of Israel's major Internet and international telephony service providers, and one of the largest providers of enterprise/IT integration services. Its 100% owned subsidiary, Smile.Media Ltd., manages a growing portfolio of Internet portals and e-Commerce sites.
Internet Gold is part of the Eurocom Communications Group and its shares trade on the Nasdaq Global Market and on the Tel Aviv Stock Exchange.
For additional information about Internet Gold, please visit its investors' site at http://www.igld.com/.
For further information, please contact:
Lee Roth - KCSA Worldwide
