Israel's Elbit Systems mulls up to NIS 900 million offering of notes

By Marisa Wong

Madison, Wis., March 20 - Elbit Systems Ltd. is considering offering up to NIS 900 million of additional series A notes to investors in Israel, according to a company news release.

These additional notes would have terms similar to those of the series A notes issued in June 2010, which included a principal amount payable in 10 equal annual installments from 2011 through 2020 and a fixed coupon of 4.84%.

If issued, the additional notes would form a single series with the existing series A notes.

According to another release, Midroog Ltd. has assigned an Aa1 local-scale rating to the outstanding series A notes and to any new series A notes that may be offered.

Elbit Systems is a defense electronics company based in Haifa, Israel.

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