By Marisa Wong
Madison, Wis., June 17 - Israel Electric Corp. Ltd. disclosed that it issued NIS 870.25 million of series 2022 bonds.
The bonds were priced at NIS 114.5 for each NIS 100 par value for total proceeds of NIS 996.44 million.
The company said that the sum is not final and may be increased.
The series 2022 bonds were first issued on Jan. 18.
As previously reported, Israel's Socio-Economic Cabinet is allowing Israel Electric to issue up to NIS 4 billion of bonds in the years 2010 through 2011. The maximum amount to be raised was subject to government approval on Jan. 16.
The company announced in January that if government approval was not granted, it would issue NIS 862.07 million of the bonds at 116 each for gross proceeds of NIS 1 billion. If, on the other hand, government approval was granted, the company planned to price NIS 1.94 billion of bonds at 114 each for proceeds of NIS 2.21 billion.
Israel Electric is a Haifa, Israel-based publicly controlled utility.
| Issuer: | Israel Electric Corp. Ltd.
|
| Issue: | Series 2022 bonds
|
| Amount: | NIS 870.25 million (may be increased)
|
| Price: | 114.5
|
| Pricing date: | Jan. 18
|
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