Israeli telco Bezeq has increased the size of its planned bond issue to about NIS870m (US$235.4m) following strong investor demand.
The issue will consist of NIS600.27m (US$162.4m) of series 6 debentures and NIS189.9m (US$51.5m) series 7 debentures,…
Israeli telco Bezeq has increased the size of its planned bond issue to about NIS870m (US$235.4m) following strong investor demand.
The issue will consist of NIS600.27m (US$162.4m) of series 6 debentures and NIS189.9m (US$51.5m) series 7 debentures, Bezeq said in a statement today.
The company originally intended to raise NIS600m, but increased this after orders reached about NIS1.2bn.
The series six debentures will be issued at NIS1.13 each for every NIS1 par value, reflecting interest of 2.16%. After the issuance, the series’ outstanding balance will be NIS1.56bn (US$422.1m) par value and the company will receive consideration of about NIS680.1m (US$184.5m).
The series seven debentures will be issued at NIS1 each for every NIS par value, reflecting interest of 2.81%. The outstanding balance of this issuance will be NIS614.56m par value and the company will receive consideration of about NIS189.9m.
Both issuances are subject to the approval of credit agencies and the Tel Aviv Stock Exchange.
