By Susanna Moon
Chicago, Jan. 7 - Makhteshim Agan Group said it priced an add-on to its series B debentures due in 2036, raising NIS 678 million.
The company will issue NIS 600 million nominal value of the bonds at a price of NIS 1,130 per unit, reflecting a yield of 5.73%.
Makhteshim Agan reopened its series B debentures to refinance maturing debt and to fund the company's continuing growth, including potential add-on acquisitions, according to a company press release.
The private placement garnered strong institutional demand, and institutional investors who submitted offers at the tender price were allotted 60% of their orders, the release noted.
Makhteshim Agan manufactures and distributes crop protection products and is based in Tel Aviv.
| Issuer: | Makhteshim Agan Industries Ltd.
|
| Issue: | Series B debentures
|
| Amount: | NIS 600 million
|
| Price: | 113
|
| Yield: | 5.73%
|
| Maturity: | 2036
|
| Distribution: | Private placement
|
| Announcement date: | Jan. 7
|
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