Leadcom Integrated Solutions Ltd. (AIM: LEAD), which provides telecommunications and services to customers in emerging markets announced today that it completed a private bond issue to investment institutions worth NIS 125 million. The bonds bear annual interest of 6.65%, linked to the Consumer Price Index (CPI).
The bonds were rated AAA by Midroog. BDO Ziv Haft was trustee for the bond issue and Epsilon Underwriting and Issuing Ltd. and Clal Finance Underwriting Ltd. were underwriters.
Leadcom CFO Eytan Mucznik said, “We are delighted to conclude this bond placing in the Israeli market. It has enabled Leadcom to diversify its financial structure and reinforces the company's opportunities in India and elsewhere. It also demonstrates Leadcom's ability to win support of the financial community and is a reflection both of our continued success in delivering on our strategy, and our financial strength.”
Leadcom raised $22.5 million, including an offer for sale by existing shareholders in March 2005. It currently has a market cap of ₤65.48 million, half its record market cap seven months ago.
Published by Globes [online], Israel business news - www.globes.co.il - on December 24, 2006
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