By Angela McDaniels
Tacoma, Wash., May 13 - Israel Electric Corp. Ltd. said it issued NIS 766.38 million principal amount of debentures at 122.1% of par for NIS 935.75 million of proceeds.
The debentures (linked Hashmal series 2029) were issued in a private placement in Israel.
The debentures bear annual CPI-linked interest at the rate of 6%, which amounts to an effective yield of 3.8%.
Principal will be paid in six equal payments in 2024, 2025, 2026, 2027, 2028 and 2029.
The debentures are secured by a floating charge on the company's assets.
Israel Electric is a Haifa, Israel-based publicly controlled utility.
| Issuer: | Israel Electric Corp. Ltd.
|
| Issue: | Linked Hashmal series 2029 debentures
|
| Amount: | NIS 766,378,000
|
| Proceeds: | NIS 935,747,538
|
| Maturity: | May 7, 2029
|
| Coupon: | 6%, linked to CPI
|
| Price: | NIS 122.10 per NIS 100 face amount
|
| Yield: | 3.8%
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
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