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Article: Ashot Ashkelon bond tender oversubscribed: The company received NIS 64 million from institutional investors out of the NIS 80 million it plans to raise.
- Article from:
- Globes
- Article date:
- June 3, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amnon Barzilai
Jun. 3--Israel Military Industries Ltd. (IMI) subsidiary Ashot Ashkelon Industries Ltd. (TASE: ASHO) successfully completed the institutional tender of its bond issue. The company raised NIS 64 million of the planned NIS 80 million bond issue. The institutional tender amounts to 80 percent of the total bond offering. The tender was 2.5-fold oversubscribed, as 57 investment institutions placed orders totaling NIS 150 million.
Midgroog Ltd. rated the bonds Baa1.
Ashot Ashkelon's board, chaired by IMI CEO Avi Felder, decided to raise NIS 80 million in bonds, which will be listed for trading on the Tel Aviv Stock Exchange ...