By Marisa Wong
Madison, Wis., March 29 - Elbit Systems Ltd. concluded its offer of series A notes in Israel, according to a company news release. The company expects to issue NIS 807.72 million of new notes.
The company sold 807,717 new notes at NIS 1,029 each for gross proceeds of NIS 831 million.
Each note carries a 4.84% coupon. The principal amount is payable in nine equal annual installments on June 30 of each of the years 2012 through 2020.
The company announced on Tuesday that it planned to offer up to NIS 900 million of the series A notes. The public tender for the Regulation S notes was held on Wednesday.
As previously reported, the company received early commitments from institutional investors for NIS 806.41 million of the notes at a price of no less than 102.9. The institutional investors will receive an early commitment fee of 0.5% of the minimum price of the notes for which early commitments were provided.
The notes will form a single series with the currently outstanding series A notes, which were issued in June 2010, and will not be linked to any currency or index.
The notes are rated Aa1 by Midroog Ltd. and will be listed for trading on the Tel Aviv Stock Exchange Ltd.
Elbit Systems is a defense electronics company based in Haifa, Israel.
| Issuer: | Elbit Systems Ltd.
|
| Issue: | Series A notes
|
| Amount: | NIS 807,717,000
|
| Maturity: | June 30, 2020
|
| Coupon: | 4.84%
|
| Price: | 102.9
|
| Pricing date: | March 28
|
| Rating: | Midroog: Aa1 local-scale
|
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