Ampal-American may sell NIS 170 million of notes to Israeli investors

By Susanna Moon

Chicago, Sept. 1 - Ampal-American Israel Corp. said it published a prospectus in Israel for an Israeli-only public offering of its series C debentures in the amount of NIS 145 million, which will only be listed on the Tel Aviv Stock Exchange.

The principal will be repaid in six annual installments beginning Sept. 7, 2014, and interest will be paid semiannually beginning Sept. 7, 2011.

Ampal said the offering is being made to non-U.S. investors under Regulation S of the U.S. Securities Act of 1933, as amended.

The offering was rated A3 with a negative outlook by Midroog Ltd., an affiliate of Moody's Investors Service, which will also apply to a possible upsized amount of NIS 170 million.

There is no assurance that the offering of debentures will be completed, according to the company's press release.

The company said on July 28 that it filed a preliminary prospectus with the Israel Securities Authority and the Tel Aviv Stock Exchange for the possible public offering of the notes.

Ampal-American is a Tel Aviv-based investment firm.

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