Israel’s ICL investors commit for NIS 390 million of series G notes

Chicago, May 14 – ICL Group, formerly known as Israel Chemicals Ltd., announced that it had accepted early commitments from investors to purchase NIS 390 million principal amount of series G debentures, according to a notice.

The notes will be sold at a price of not less than NIS 965 per each NIS 1,000 note, for proceeds of approximately NIS 375 million.

ICL is requesting Standard & Poor’s Maalot to reaffirm an ilAA rating for the potential offering.

As reported earlier, 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.

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

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