Cellcom Israel Enters Loan Agreement With Israeli Bank - Quick Facts

(RTTNews) - Israeli cellular provider Cellcom Israel Ltd. (CEL) announced that it is entering into a loan agreement with an Israeli bank or Lender, according to which the Lender has agreed, subject to certain customary conditions, to provide the company a deferred loan in a principal amount of NIS 140 million.

The load will be provided to the company in December 2016, and will bear an annual fixed interest of 4.9 percent. The loan's principal amount will be payable in five equal annual payments on June 30 of each of the years 2018 through 2022.

Under the Agreement, the interest rate may be subject to certain adjustments. Until the provision of the loan, the Company is required to pay the Lender a commitment fee and if it doesn't take the loan - a certain agreed compensation.