Israel’s ICL mulls additional series G debentures due 2034

By Rebecca Melvin

New York, May 13 – ICL Group, formerly known as Israel Chemicals Ltd., said it may offer additional series G debentures, according to a company news release.

The offering would be made to the public in Israel only and is subject to approval by the company’s board of directors and the Tel Aviv Stock Exchange.

The proceeds would be used to partially repay amounts outstanding under its revolving credit facility agreement, dated March 23, 2015 and amended Oct. 29, 2018, by the company and financial institutions including ICL Finance BV. Proceeds would also be for general corporate purposes.

As previously reported, the company priced NIS 380 million series G debentures due 2034, with an interest rate of 2.4% in December 2019.

The company is a specialty minerals and specialty chemicals company based in in Tel Aviv.

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