NETANYA, Israel, February 3, 2015 /PRNewswire/ --

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today the successful completion of the previously announced exchange offer of certain of the Company's debentures. The final information relating to the exchange offer is as follows: 


        
        - An aggregate principal amount of approximately NIS 460 million of the
          Company's series D debenture shall be exchanged with approximately NIS 699 million new
          debentures of the Company's existing series H debentures; and
        - An aggregate principal amount of approximately NIS 237 million of the
          Company's series E debenture shall be exchanged with approximately NIS 292 million new
          debentures of the Company's existing series I debentures; and

The aggregate amount that the Company shall pay in arrangement fees and other expenses in connection with the exchange offer is approximately NIS 2.5 million.

The closing of the offering is expected to occur on February 3-4, 2015.

The offering described in this press release was made only in Israel and only to residents of Israel. The said debentures will not be registered under the U.S. Securities Act of 1933 and will not be offered or sold in the United States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 3.010 million cellular subscribers (as at September 30, 2014) with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an LTE 4 Generation and HSPA 3.5 Generation networks enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Cellcom Israel further provides through its wholly owned subsidiaries internet connectivity services and international calling services, as well as landline telephone communication services and most recently - also television of the internet service in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://www.cellcom.co.il [http://investors.ircellcom.co.il/events.cfm ] 


        
        Company Contact
        Shlomi Fruhling
        Chief Financial Officer
        Investors@cellcom.co.il
        Tel: +972-52-998-9755

        Investor Relations Contact
        Ehud Helft
        GK Investor & Public Relations  In partnership with LHA
        Cellcom@GKIR.com
        Tel: +1-617-418-3096

SOURCE Cellcom Israel Ltd.