The trustee of IDB Holding Corpation's (TASE:IDBH) Series 4 bond, Kaldan, announced today that the ex-date for the upcoming interest payment on the bond has been postponed by one day from tomorrow to Thursday, December 13. The payment date on the bond has been postponed by five days to December 25. IDB is due to make a NIS 65 million interest payment on the bond.
IDB said that the trustee made the decision in order to give more time for talks with the company and to protect the bondholders' rights. Its statement said, "The postponement does not constitute a concession or forgiveness by the bondholders of their rights, and it does not derogate from the bondholders' rights or deny them the right to corrective remedies permitted them under the trust deed and/or by law.
"The postponement of the interest payment will not be considered as violation or non-performance of IDB's commitments to the bondholders, nor is the postponement grounds for any act or proceedings against the company."
IDB said that, as of today, the trustees of its Series A, B, C, D, and E bonds are continuing to review the results of the bondholders' meeting.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2012
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