Israel Electric OKs $500 million debentures, eyes investor meetings

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – Israel Electric Corp. Ltd.’s board of directors approved the company’s issuance of $500 million debentures with an up to $500 million over-allotment option on Thursday, according to a company notice.

The Rule 144A and Regulation S issuance would fall under Israel Electric’s global medium-term note program.

The company’s management plans to hold meetings with potential investors in the United States and Europe next week, after which the company may carry out the issue, subject to market conditions.

Israel Electric is a Haifa, Israel-based publicly controlled utility.

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