Israel Corp. bond offering oversubscribed

Idan Ofer
Idan Ofer

The company had only planned to raise NIS 750 million but nearly doubled that because of the high demand.

Israel Corporation (TASE: ILCO), controlled by Idan Ofer, has completed the institutional stage of its latest debt raising round. The company had asked to raise NIS 750 million but nearly doubled that because of the high demand, sources inform "Globes." Demand reached NIS 1.7 billion and the company took advantage of the situation to raise NIS 1.4 billion, a very large amount in terms of the Tel Aviv Stock Exchange (TASE).

The company has offered two bonds series: Series 10 in unlinked shekel bonds and series 11 in dollar bonds. Israel Corp raised at least NIS 680 million in series 10, bearing 3.85% interest and at least NIS 490 in Series 11 at 5% interest.

Israel Corp. after Kenon was split off, owns Oil Refineries Ltd. (TASE:ORL) and >Israel Chemicals (TASE: ICL: NYSE: ICL).

Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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