Israel Electric bond issue plan approved
JERUSALEM, Jan 12 (Reuters) - Israel's socio-economic cabinet approved state-run Israel Electric Corp's (IEC) plan to issue up to 500 million shekels ($129 million) in a debt offering in Israel, the Finance Ministry said on Monday.
IEC's board last month approved the plan to issue bonds through underwriter Leader Capital Markets.
The inflation-linked bonds, which would not be listed for trade, would mature in 2020, the ministry said in a statement.
No other details of the bond issue were immediately available.
IEC, Israel's main provider of electricity, last May sold $1 billion of bonds due in 2019 through Lehman Brothers and Citigroup at 7.25 percent, 350 basis points over U.S. Treasuries.
($1 = 3.89 shekels)
(Reporting by Steven Scheer; Editing by Sharon Lindores)
© Thomson Reuters 2009 All rights reserved
Pledge to support economies
G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. Full Article | Related Story












