By Angela McDaniels
Tacoma, Wash., March 14 - Elbit Imaging Ltd. determined that the final issue size for its additional 5% series D debentures due 2020 is NIS 96 million, according to a company news release.
On March 9, the company announced that it planned to issue up to NIS 120 million of the debentures and that institutional investors had subscribed for the entire NIS 96 million of the offering allotted to them by law in a Dutch auction. The remaining debentures were offered to the public in Israel.
The debentures priced at 112.8 to yield 6.03%.
The debentures were initially issued without a discount rate. Following an issuance of the debentures in a private placement in November, the discount rate was 0.3%. Elbit said that following the latest add-on, the discount rate will be 0.66%.
The net proceeds are NIS 107 million.
The notes make annual payments of principal and semiannual payments of interest at the rate of 5% per year, and this is linked to the Israeli Consumer Price Index of February 2007.
Elbit Imaging has five main business segments: commercial and entertainment centers, hotels, image-guided treatment, residential projects and fashion apparel. The company is based in Tel Aviv, Israel.
| Issuer: | Elbit Imaging Ltd.
|
| Issue: | Series D debentures
|
| Amount: | NIS 96 million
|
| Maturity: | 2020
|
| Coupon: | 5%
|
| Price: | 112.8
|
| Yield: | 6.03%
|
| Announcement date: | March 9
|
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