By Angela McDaniels
Tacoma, Wash., March 9 - Elbit Imaging Ltd. priced an additional NIS 120 million of its 5% series D debentures due 2020 at 112.8 to yield 6.03%, according to a company news release.
In a Dutch auction, institutional investors subscribed for the entire NIS 96 million of the offering allotted to them by law. The remaining debentures will be offered to the public in Israel.
Assuming that the total offering is subscribed for, Elbit expects the net proceeds to be about NIS 134 million.
The notes make annual payments of principal and semiannual payments of interest at the rate of 5% per year, and this is linked to the Israeli Consumer Price Index.
Elbit Imaging has five main business segments: commercial and entertainment centers, hotels, image-guided treatment, residential projects and fashion apparel. The company is based in Tel Aviv, Israel.
| Issuer: | Elbit Imaging Ltd.
|
| Issue: | Series D debentures
|
| Amount: | NIS 120 million
|
| Maturity: | 2020
|
| Coupon: | 5%
|
| Price: | 112.8
|
| Yield: | 6.03%
|
| Announcement date: | March 9
|
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