By Christine Van Dusen
Atlanta, June 18 - Israel Electric Corp. priced a two-tranche issue of $1.1 billion notes due June 21, 2018 and 2023 via Barclays and Citigroup, a market source said.
The Rule 144A and Regulation S deal included $600 million five-year notes that priced at par to yield 5 5/8%, on top of price talk.
The second tranche totaled $500 million 10-year notes that priced at par to yield 6 7/8%. Price talk was set at 6 7/8%.
The issuer is a Haifa, Israel-based public utility.
| Issuer: | Israel Electric Corp.
|
| Amount: | $1.1 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, Citigroup
|
| Trade date: | June 18
|
| Settlement date: | June 21
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $600 million
|
| Maturity: | June 21 2018
|
| Coupon: | 5 5/8%
|
| Price: | Par
|
| Yield: | 5 5/8%
|
| Price talk: | 5 5/8%
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | June 21, 2023
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Price talk: | 6 7/8%
|
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