Friday, 23 January 2009

Israel Electric Bond Sale Data

And the final result is:

Issuer: Israel Electric Corp. Ltd.

Size: $500 Million

Maturity: Jan. 28, 2020

Coupon: 9.375% (Semi-annual)

Issue Price: 99.158% of principal amount

Yield to Maturity: 9.5%

Spread to Benchmark Treasury: 684 Basis Points

Benchmark Treasury Price and Yield: 109.11%; 2.66%

Gross Proceeds to Issuer: $495.79 Million
Ratings: Moody’s: Baa2 / S&P: BBB+
Book Managers: Citigroup Global Markets Inc / JPMorgan Securities Inc.

Co-Managers: Credit Suisse Securities / Goldman Sachs & Co. / Merrill Lynch & Co. / Morgan Stanley & Co.

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