By Tali Rackner
Norfolk, Va., April 6 – Israel Chemicals Ltd. (ICL) completed its placement of NIS 1.57 billion (about $413 million) of series E debentures, according to a press release.
The notes mature within a period of five to eight years and bear interest at 2.45% per annum, payable semiannually.
The notes may be prepaid.
Most of the proceeds will be used to partially repay a revolving credit facility obtained in March 2015.
ICL said it originally planned to place NIS 1.25 billion of the series E debentures but increased the size of the commitment due to strong demand by Israeli institutional investors for in excess of NIS 3.5 billion of the bonds.
The debentures will be listed for trading on the Tel Aviv Stock Exchange.
Israel Chemicals is a fertilizer and specialty chemicals company based in Tel Aviv.
| Issuer: | ICL (Israel Chemicals Ltd.)
|
| Issue: | Series E debentures
|
| Amount: | NIS 1.57 billion (about $413 million)
|
| Maturities: | 2021 to 2024
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| Coupon: | 2.45%
|
| Announcement date: | March 31
|
| Settlement date: | April 6
|
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