Partner signed an agreement on Thursday for the provision of guaranteed credit totaling $650 million. For the first time, the credit provision includes a combination of dollar credit based on libor rate, and credit in shekels from local market sources.
The raising of local credit for a total of $400 million was coordinated by Bank Leumi and Bank Hapoalim. The credit was provided by the two banks without syndication.
The raising of international credit for a total of $250 million was coordinated by Chase Manhattan Bank, assisted by US Citibank and ABN Amro of the Netherlands.
Also participating in the credit raising was Bank Leumi Britain, Barclays Capital Bank, Discount Bank New York, Istituto Mobiliare Italliano, Japanese Sumitomo, Westlb Group and United Mizrahi Bank.
Partner paid $400 million to the State for the GSM licence, and is expected to invest over $600 million in setting up the company and system infrastructure.
The following is a list of Partner owners: Hutchison Telecom - 46.7%, Matav - 20.3%, Elbit - 16.5%, Tapuz - 16.5%.
Published by Israel's Business Arena August 16, 1998