Israel Electric Corporation (IEC) (TASE: ELEC.B22) last night successfully completed a global bond offering of $1.25 billion in Europe and the US. The bond was issued as part of an overall plan to raise $5 billion, of which $2 billion was raised in 2008 and 2009, and $1.4 billion last year. RELATED ARTICLES IEC to raise NIS 8b over 2 years The bond will be traded on the Tel Aviv Stock Exchange (TASE) on the institutional listing, and was issued in one series with 5% interest. The fund will be repaid in one sum in November 2024. IEC Chairman Yiftah Ron-Tal said, "The excellent results of the offering demonstrate the large faith that leading global institutional investors have in the IEC." IEC CEO Eli Glickman said, "Some of the world's largest institutional bodies took part in the offering for the very first time with very high demand. The timing of the offering was perfect and contributed greatly to the excellent results." Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2014 © Copyright of Globes Publisher Itonut (1983) Ltd. 2014
