|19.06.2013 - Cbonds
New bond issue: Israel Electric sells USD 600m in 2018 bonds with 5,625% coupon
Israel Electric (Israel) on June 18, 2013 placed USD 600m in bonds with a 5,625% coupon, maturing in 2018. Barclays Capital and Citigroup arranged the deal.
Issuer, issue number:
Israel Electric, 2018
|Type of debt instrument:||International bonds|
|Type of placement:||Public|
|Par, currency of issue:||
|Amount:||750 000 000|
|Start of placement:||Jun 18 2013|
|End of placement:||Jul 02 2013|
|Coupon frequency:||2 time(s) per year|
|Settlement Date:||Jun 21 2013|
|Maturity date:||Jun 21 2018|
|Issue Managers:||Barclays Capital and Citigroup|
The Israel Electric Corp. is the sole integrated electric utility in the State of Israel and generates, transmits and distributes substantially all the electricity used in the State of Israel. The State of Israel owns approximately 99.85% of the Company.
The Company was incorporated in mandatory Palestine on March 29th, 1923, with its main object to produce, supply, distribute and sell electricity to the consumers. Israel Electric Corp. was first registered under the name "The Palestine Electricity, Corporation Limited", which was changed in the year 1961 to its present name "The Israel Electric Corporation Limited".
The Company is one of the largest industrial companies in Israel. For the year ended December 31, 2008, the Company had total revenues of U.S $6.1 billion, net Income of U.S. $144.4 million and total assets of U.S. $19.5 billion.
As of December 31, 2008, the Company maintains and operates 17 power stations sites (including 5 sites for steam driven power stations) with an aggregate installed generating capacity of 11,649 MW (In addition to 26 MW which generating by independent private producer under the Company dispatch). In 2008, the Company sold 50,161 GWh, of electricity.
8 issue(s) outstanding worth USD 4 075 000 000