Africa-Israel currently has 13 bond series on the TASE, with a total debt of NIS 7.4 billion.
"A few weeks ago, the bondholders' representatives asked Giza Singer Even for a report, which showed that Africa-Israel unequivocally has the means to meet its liabilities on time, and that there was no need for a debt settlement," said Adv. Guy Gissin, who represents the holders of Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) Series 9 Bond. He made the statement at an urgent press conference convened by the bondholders.
The Series 9 Bond totals NIS 550 million, including linkage. It is linked to the Consumer Price Index (CPI) and bears 4.2% annual interest. The bond was issued in November 2005, and Africa-Israel has been making quarterly interest payments on it since February 2006. Africa-Israel is due to pay the principal on November 10.
Africa-Israel currently has 13 bond series marketed on the Tel Aviv Stock Exchange (TASE), with a total debt of NIS 7.4 billion.
Africa-Israel's share fell 4.2% by early afternoon today to NIS 45.15.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2009
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