Israel’s Elbit to spend NIS 57.6 million to buy back series H notes

By Susanna Moon

Chicago, March 14 – Elbit Imaging Ltd. said it will pay up to NIS 57.6 million to repurchase its series H notes under a new plan approved by its board of directors.

The buybacks will be made on the Tel Aviv Stock Exchange or in privately negotiated transactions, according to a 6-K filing with the Securities and Exchange Commission.

The company had said on March 14 that it will now repay its NIS 56,870,874 principal amount of remaining series H notes on May 31 instead of retiring the notes early as planned.

The bondholders voted against the early redemption of the series H notes at a meeting.

The company said on Feb. 28 that it planned to redeem its NIS 56,870,874 principal amount of remaining series H notes on March 18.

Elbit Imaging is a company based in Tel Aviv with interests in commercial centers and other mixed-use real estate projects, predominantly in the retail sector, located in Central and Eastern Europe, hotels, medical industries and devices and residential projects, primarily in India.

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