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Israel's Hadera gets go-ahead for NIS 75 million of new debentures
By Jennifer Chiou
New York, May 10 - Hadera Paper Ltd. announced in its quarterly financial report that its board of directors has authorized the company's management to move forward with a roughly NIS 75 million issue of a new series of debentures.
The Hadera, Israel-based paper company said that the public placement's scope may change according to market conditions and the interest rates will be determined at a tender.
The company added that there is no certainty about the completion of the offering.
Hadera said that Maalot, an Israeli affiliate of Standard & Poor, has assigned the prospective new series of debentures a rating of ilA+/negative.
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