Spacecom Satellite Communications Ltd. (TASE:SCC), controlled by Shaul Elovitch, raised a total of NIS 860 million in its institutional offering of two new bond series, 13 and 14, last week. Demand for the bonds amounted over NIS 1.2 billion.
The unlinked 13 series bond was offered at a maximum annual fixed interest rate of 6.2%. The 14 series bond was offered at a maximum interest rate of 6.5%, dollar-linked.
Orders for the series 13 bond totaled NIS 737 million, of which NIS 529 million was filled, at an interest rate of 5.5%. This will be the maximum rate in the public offering. Repayment will be in ten bi-annual payments between 2018 and 2023.
Demand for the 14 series bond totaled NIS 492 million, of which NIS 331 million was filled, at an interest rate of 6.35%. Again, this will the maximum rate in the public offering. The repayment terms are the same as for the 13 series bond.
Spacecom's Amos 6 satellite, which is expected to replace the Amos 2 telecommunications satellite, made headlines last week when it was learned that Facebook would use it for one of its main ventures in the coming years - hooking sub-Saharan African countries up to the Internet.
Published by Globes [online], Israel business news - www.globes-online.com - on October 11, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015