By Rebecca Melvin
New York, Dec. 31 – Israel Chemicals Ltd., also known as ICL Group, said it has completed an offering of NIS 380 million 15-year debentures, with an interest rate of 2.4%.
The series G debentures will pay 13 consecutive but unequal annual amounts from Dec. 30, 2022 through Dec. 30, 2034 with the final payment for the remaining 64% of the nominal value of the principal in 2034, according to the company’s press release.
The offering was oversubscribed by three times, garnering more than NIS 1.3 billion of offers.
ICL plans to use the proceeds from the offering for general corporate purposes, which may include refinancing debt.
The debentures will be listed for trading on the Tel Aviv Stock Exchange.
The company is a specialty minerals and specialty chemicals company based in in Tel Aviv.
| Issuer: | Israel Chemicals Ltd.
|
| Issue: | Series G debentures
|
| Amount: | NIS 380 million
|
| Maturity: | Dec. 30, 3034
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| Interest rate: | 2.4%
|
| Listing: | Tel Aviv Stock Exchange
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