Friday, 23 January 2009

Israel Electric Seen Closing Bond Sale Today. Latest Pricing Puts Yield at 9.75 Percent

This is the latest data regarding Israel Electric Corp.'s bond sale. expected to be completed today. The use of proceeds is for new investment and general corporate purposes.

Issuer: Israel Electric Corp. Ltd.

Ratings: Baa2 / BBB+ (Stable/Negative Watch)

Type: Senior Secured Notes

Maturity: January 2020

Size: Benchmark Size in U.S. Dollars (At Least $500 Million)

Yield Guidance: 9.5 - 9.75%

Bookrunners: Citigroup Inc. / JPMorgan Chase & Co.

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

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