By Angela McDaniels
Tacoma, Wash., July 29 - Elbit Imaging Ltd. priced NIS 89,604,000 of series 1 convertible debentures due Dec. 31, 2014, according to a company news release.
The convertibles priced at 103.8 with a 6.25% coupon. The yield is 5.36%.
The conversion price is NIS 128 per share until July 31, 2013. It will then increase to NIS 200.
Elbit announced plans for the convertibles on Tuesday and determined the pricing information after soliciting interest from institutional investors.
The offering is being made in Israel to residents of Israel only.
The company also priced NIS 110,497,000 of series F debentures due Oct. 1, 2015. The proceeds from the two issues total about NIS 213 million.
Elbit has four main business segments: shopping and entertainment centers, hotels, image-guided treatment and residential projects. The company is based in Tel Aviv, Israel.
| Issuer: | Elbit Imaging Ltd.
|
| Issue: | Series 1 convertible debentures
|
| Amount: | NIS 89,604,000
|
| Maturity: | Dec. 31, 2014
|
| Coupon: | 6.25%
|
| Price: | 103.8
|
| Yield: | 5.36%
|
| Conversion price: | NIS 128 until July 31, 2013, then NIS 200
|
| Stock symbol: | Tel Aviv: EMIT
|
| Stock price: | NIS 94.86 at close July 29
|
| Pricing date: | July 29
|
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