|By PR Newswire||
|January 7, 2013 04:27 AM EST||
TEL-AVIV, Israel, January 7, 2013 /PRNewswire/ --
The private placement comes from an expansion of the Company's existing Series B debentures, whose final redemption date is in 2036
The purpose of the funding is to refinance debt maturities and finance the Company's continued growth
Makhteshim Agan Group (MAI) announced today the completion of a private placement through the re-opening of the Company's Series B debentures. The purpose of the issue of NIS 678 million is to refinance maturing debt and to fund the Company's continuing growth, including potential add-on acquisitions.
The transaction was met with strong institutional demand as a result institutional investors that submitted offers at the tender price were allotted 60% of their orders.
The Company will issue NIS 600 million nominal value of its series B debentures at a price of NIS 1,130 per unit, reflecting a yield of 5.73%.
SVP, Global Corporate Communications
Phone Number: +972-73-2321131
SOURCE Makhteshim Agan Group