By Reshmi Basu
New York Aug. 18 - Koor Industries Ltd. said it sold NIS 600 million of unsecured debentures due 2016 to Israeli investors through a public offering.
The principal and interest were determined by a public tender, which was held on Thursday.
The interest rate was 5.10%, linked to the Israeli consumer price index.
Meanwhile Maalot, an Israeli securities rating company, rates the issue A+.
Proceeds will be used for investments and for general corporate purposes.
Koor Industries, based in Rosh Ha'ayain, Israel, is an investment holding company focusing on high-growth, internationally oriented Israeli companies.
| Issuer: | Koor Industries Ltd.
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| Amount: | NIS 600 million
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| Issue: | Unsecured debentures
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| Maturity: | Sept. 1, 2016
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| Interest rate: | 5.10%
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 20
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| Rating: | Maalot: A+
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