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PTNR Partner Communications

Filed: 27 Nov 20, 6:03am


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15a-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Report on Form 6-K dated
 
November 26, 2020

Partner Communications Company Ltd.
(Translation of Registrant’s Name Into English)
 
8 Amal Street
Afeq Industrial Park
Rosh Ha’ayin 48103
Israel
                       
(Address of Principal Executive Offices)
 
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
 
Form 20-F     Form 40-F
 
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
 
Yes   No
 
(If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-               )

This Form 6-K is incorporated by reference into the Company’s Registration Statements on Form S-8 filed with the Securities and Exchange Commission on December 4, 2002 (Registration No. 333-101652), September 5, 2006 (Registration No. 333-137102), September 11, 2008 (Registration No. 333-153419), August 17, 2015 (Registration No. 333-206420), November 12, 2015 (Registration No. 333-207946), March 14, 2016 (Registration No. 333-210151) and on December 27, 2017 (Registration No. 333-222294), November 21, 2018 (Registration No. 333-228502)
 
Enclosure: Partner Communications Announces Issuance of Company Debentures (Series G) Following Exercise of Option Warrants (Series B)
 



PARTNER COMMUNICATIONS ANNOUNCES ISSUANCE OF
COMPANY DEBENTURES (SERIES G)
FOLLOWING EXERCISE OF OPTION WARRANTS (SERIES B)
 
ROSH HA'AYIN, Israel, November 26, 2020 - Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, announces that further to the Company's immediate reports dated April 17, 2019, May 1, 2019 and July 1, 2019, with respect to a private placement in Israel of untradeable option warrants that are exercisable for the Company's Series G debentures, and further to the Company's immediate report dated July 1, 2019, November 28, 2019, February 27, 2020, May 31, 2020 and July 1, 2020 with respect to the exercise of option warrants of the Company (Series A) and (Series B), 622,000 option warrants of the Company (Series B) that are exercisable for NIS 62,200,000 par value of Series G debentures of the Company, were exercised.
 
The option warrants (Series B) of Series G debentures of the Company, were exercised at a discount rate of 2.688%, and therefore the weighted discount rate for November 26, 2020 that applies to the Series G debentures (following the issuance detailed in this report) is 0.903%.
 
Standard & Poor’s Global Ratings Maalot Ltd. ("Maalot") has announced an 'ilA +' rating for the issuance of debentures in an amount of up to NIS 62.2 million par value that will be issued through an expansion of Series G debentures as part of an exercise of untradeable options. For further information, see Maalot's report dated November 26, 2020 at: https://maya.tase.co.il/reports/details/1334896/2/0 or its unofficial English translation which is attached hereto.
 
NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SOUTH AFRICA OR SINGAPORE.
 
For additional details regarding the Company's Series G debentures, see the Company's Shelf Offering Report that the Company published on January 3, 2019 (on Form 6-K) at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891319000035/zk1922436.htm or
https://mayafiles.tase.co.il/rpdf/1206001-1207000/P1206884-00.pdf
the Company's press releases and immediate reports (on Form 6-K) dated April 17, 2019 at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891319001154/zk1922938.htm
or https://maya.tase.co.il/reports/details/1225154 ; on May 1, 2019 at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891319001264/zk1922985.htm or
https://maya.tase.co.il/reports/details/1226942; on July 1, 2019 at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891319001781/zk1923231.htm  or
https://maya.tase.co.il/reports/details/1238784; on November 28, 2019 at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891319002851/zk1923706.htm or
https://maya.tase.co.il/reports/details/1265589/2/0; on February 27, 2020 at:
https://www.sec.gov/Archives/edgar/data/1096691/000117891320000660/zk2024103.htm
or https://maya.tase.co.il/reports/details/1280967; on May 31, 2020 at: https://maya.tase.co.il/reports/details/1298367/2/0 or https://www.sec.gov/Archives/edgar/data/1096691/000117891320001682/zk2024516.htm and on July 1, 2020 at:
https://maya.tase.co.il/reports/details/1305998 or
https://www.sec.gov/Archives/edgar/data/1096691/000117891320001907/zk2024622.htm

and also the Company's Annual Report on Form 20-F for the year ended December 31, 2019 – "Item 5B. Liquidity and Capital Resources".



About Partner Communications
Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For more information about Partner see:
http://www.partner.co.il/en/Investors-Relations/lobby/

Contacts:
Mr. Tamir Amar
Chief Financial Officer
Tel: +972-54-781-4951
 
Mr. Amir Adar
Head of Investor Relations & Corporate Projects
Tel: +972-54-781-5051
Email: investors@partner.co.il



Partner Communications Company Ltd. 


November 26, 2020

New Issuance

 ‘ilA+’ Rating Assigned To Bond Issuance Of Up To NIS 62.2 Million Par Value Through A Future Private Placement Of Options Dated April 2019

Primary Credit Analyst:
Tom Dar, 972-3-7539722 tom.dar@spglobal.com

Additional Contact:
Tamar Stein, 972-3-7539721 tamar.stein@spglobal.com

 Please note that this translation was made for convenience purposes and for the company's use only and under no circumstances shall obligate S&P Global Ratings Maalot Ltd. The translation has no legal status and S&P Global Ratings Maalot Ltd. does not assume any responsibility whatsoever as to its accuracy and is not bound by its contents. In the case of any discrepancy with the official Hebrew version published on November 23, 2020, the Hebrew version shall apply.

1 | November 26, 2020
 New Issuance

Partner Communications Company Ltd.

New Issuance

‘ilA+’ Rating Assigned To Bond Issuance Of Up To NIS 62.2 Million Par Value Through A Future Private Placement Of Options Dated April 2019

S&P Maalot hereby assigns its ‘ilA+’ rating to bonds of up to NIS 62.2 million par value to be issued by Partner Communications Co. Ltd. (ilA+/Stable) through the expansion of Series G by exercising non-tradable options (see our rating report published on April 17, 2019). The proceeds from the issuance will be used for the company's ongoing activity.

We note that there remains a high degree of uncertainty about the evolution of the coronavirus pandemic. Reports that at least one experimental vaccine is highly effective and might gain initial approval by the end of the year are promising, but this is merely the first step toward a return to social and economic normality; equally critical is the widespread availability of effective immunization, which could come by the middle of next year. We use this assumption in assessing the economic and credit implications associated with the pandemic (see our research on S&P Maalot website and S&P Global Ratings website). As the situation evolves, we will update our assumptions and estimates accordingly.

For additional information on the rating and for other regulatory requirements, see our rating report dated August 10, 2020.

2 | November 26, 2020
www.maalot.co.il




Partner Communications Company Ltd.

Rating Detail

  
Partner Communications Co. Ltd.
Issuer Credit Rating(s)
Local Currency Long Term

ilA+/Stable
Issue Rating(s)
Senior Unsecured Debt
Series D, F, G

ilA+
Rating History
Local Currency Long Term
August 10, 2020ilA+/Stable
August 05, 2019ilA+/Negative
July 28, 2015ilA+/Stable
June 20, 2013ilAA-/Stable
December 06, 2012ilAA-/Negative
September 10, 2012ilAA-/Watch Neg
October 19, 2010ilAA-/Negative
October 05, 2009ilAA-/Stable
September 17, 2009ilAA-
July 14, 2009ilAA-/Watch Dev
March 24, 2009ilAA-/Watch Pos
October 28, 2008ilAA-/Stable
September 25, 2007ilAA-/Positive
March 20, 2007ilAA-/Stable
July 28, 2004ilAA-
February 16, 2004ilA+
August 01, 2003

ilA
Other Details
Time of the event09:01 26/11/2020
Time when the analyst first learned of the event09:01 26/11/2020
Rating requested byIssuer


3 | November 26, 2020
www.maalot.co.il


Partner Communications Company Ltd.

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4 | November 26, 2020
www.maalot.co.il



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 Partner Communications Company Ltd. 
    
 By:/s/ Tamir Amar 
  Name: Tamir Amar 
  Title: Chief Financial Officer 

Dated: November 26, 2020