Israel's Elbit Systems mulls NIS 500 million offering of notes

By Jennifer Chiou

New York, May 27 - Elbit Systems Ltd. announced that it is considering an offering of NIS 500 million of notes issued in three series.

The 10-year notes may include the following:

• Fixed-rate notes that are not linked to any index or currency;

• Floating-rate notes based on the three-month Tel Aviv Inter-Bank Offer Rate plus a margin; and

• Floating-rate notes linked to six-month Libor plus a margin and linked to changes in the NIS/dollar exchange rate.

Elbit said that it has yet to determine to terms or timing of the offering.

The notes will be issued under the company's shelf registration.

Haifa, Israel-based Elbit is an international defense electronics company.

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