Bezeq only planned to raise NIS 700 million but took

advantage of strong demand.

Israeli telecommunications company Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) planned to raise NIS 700 million through an extension of two existing bond series. Due to strong demand in the offering to investment institutions, however, the volume of the offering reached NIS 1.15 billion. The extended series were Series 6 of index-linked bonds with an effective interest rate at issue of 1.73% and Series 7 of shekel-denominated bonds whose price reflected a 2% effective interest rate. Standard & Poor’s Maalot Ltd. rated Bezeq’s offering ilAA p to NIS 1 billion in par value. Bezeq, controlled by Shaul Elovitch, which trades at a market cap of NIS 18 billion, is slated to distribute a NIS 1.3 billion dividend on October 2, subject to approval by the annual shareholders’ meeting.