Delek Group Successfully Raised NIS 913 million from Debenture Issue

March 29, 2007 at 12:00 AM EDT

pdf Download PDF

Tel Aviv, March 29, 2007. Delek Group (TASE: DLEKG) announced that it has successfully raised today, 29 March 2007, NIS 913,259,560 par value through debentures that are registered under the name (Series 13), by means of a private placement to local institutional investors.

The debentures will be repaid in 10 semi-annual equal payments as follows: on the 29th March and 29th September between the years 2013-2014, and on the 29th March and 29th September between the years 2019-2021.

The debentures bear a fixed annual interest rate as follows: starting from the debenture issue date, and until the date whereby the debentures are registered for trading on the Tel Aviv Stock Exchange - 5.1%, and, from the date the debentures are registered for trading- 4.6%. The interest will be paid every six months on the 29th of March and 29th of September every year starting September 29, 2007 and ending September 29, 2021.

The Series 13 Debentures are linked (both the principle and interest) to the Israeli Consumer Price Index (CPI) published on March 15, 2007 for the month of February 2007.

The company has committed to work to register the debentures for trade on the Tel Aviv Stock Exchange.

NIS 342,123,000 par value in debentures (Series 13) will be allocated against cash, and NIS 571,136,560 par value in debentures (Series 13), will be allocated against replacing debentures (Series 6-10) that were issued by the Company, back into the Company. Following the replacement of the debentures as previously mentioned, there will remain NIS 120,564,176 par value of (Series 6) NIS 104,830,000 par value of (Series 7), NIS 52,958,661 par value of (Series 8), 17,137,614 par value of (Series 9), NIS 27,730,019 par value of (Series 10).

The debentures were rated AA by Maalot – The Israel Rating Agency.

Contact

Dalia Black

Head of Investor Relations
Delek Group
Tel: +972 9 863 8444
Email: black_d@delek.co.il

Ehud Helft / Kenny Green/ Fiona Darmon

International Investor Relations
GK Investor Relations
Tel: (US) 1 866 704 6710 / (UK) 0871 474 1218
E-mail: info@gkir.com