By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Israel Electric Corp. Ltd. sold NIS 1.25 billion of series 26 bonds and NIS 1.62 billion of series 27 bonds, according to a company announcement.
The bonds were offered to the public in separate tender offers on Wednesday.
For the series 26 bonds, 195 orders were received in the tender to purchase 1,358,838 units, of which orders for 214,295 units came from the public and orders for 1,144,543 units came from an early undertaking of qualified investors.
The price of the units as determined in the tender is NIS 1,155.
Of the 1,239,354 fully accepted units, orders for 1,057,568 came from qualified investors. Orders for 33,946 units from qualified investors were partly accepted at a rate of 32.64% per order.
Orders to purchase 85,538 units from qualified investors and from the public were not accepted.
In total, the company will issue NIS 1,250,432,000 of the units for a total consideration of NIS 1,444,248,960.
For the series 27 bonds, 189 orders were received in the tender to purchase 1,823,792 units, of which orders for 330,912 units came from the public and orders for 1,492,880 units came from an early undertaking of qualified investors.
The price of the units as determined in the tender is NIS 1,153.
Of the 1,488,601 fully accepted units, orders for 1,342,857 came from qualified investors. Orders for 142,207 units from the public were partly accepted at a rate of 74.42% per order.
Orders to purchase 170,155 units from qualifies investors and from the public were not accepted.
In total, the company will issue NIS 1,617,262,000 of the units for a total consideration of NIS 1,864,703,086.
Israel Electric is a Haifa, Israel-based publicly controlled utility.
| Issuer: | Israel Electric Corp. Ltd.
|
| Issue: | Bonds
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| Amount: | NIS 2,867,694,000
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| Pricing date: | Sept. 8
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| Series 26
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| Amount: | 1,250,432 units, NIS 1,250,432 face value
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| Price: | NIS 1,155 per NIS 1,000 face amount
|
|
|
| Series 27
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| Amount: | 1,617,262 units, NIS 1,617,262,000 face value
|
| Price: | NIS 1,153 per NIS 1,000 face amount
|
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