Israel Electric Corporation has raised NIS 4 billion since the start of the year.
The huge fund raising round by Israel Electric Corporation (IEC) yesterday means that in just two weeks, the company has raised debt to the tune of NIS 4 billion, close to the amount it raised last month which was NIS 5.7 billion.
The amounts raised since the beginning of 2011 on the bond market indicate a continuation of the trend of 2010, when the company raised NIS 43 billion in debt, 18% more than in 2009.
Most of the recent debt offerings have attracted high demand, tanks to a shortage of investment alternatives on the market.
The current round was led by Leader Capital Markets and Clal Finance Underwriting, and the interest rate was set at 4.4%. The bonds fall due between 2020 and 2030, in six payments.
Published by Globes [online], Israel business news - www.globes-online.com - on January 13, 2011
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