SYS-CON MEDIA Authors: Gilad Parann-Nissany, Kevin Benedict, Unitiv Blog, RealWire News Distribution, Jason Bloomberg

News Feed Item

Makhteshim Agan Successfully Completes Private Debt Placement of NIS 678 Million

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%.

Contact:
Rony Patishi-Chillim
SVP, Global Corporate Communications
Email: [email protected]
Phone Number: +972-73-2321131

SOURCE Makhteshim Agan Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.