Herzog Fox & Neeman represented Israel Electric Corporation in a $1,000,000,000 international notes offering. The offering was successfully priced during turbulent capital markets and was four-times oversubscribed by investors in approximately 30 jurisdictions, including New York, Boston, the EU, London and Tel Aviv. The notes will mature on August 2028, bear interest of 4.25%, and will be listed on the TACT institutional list of the Tel Aviv Stock Exchange. Citigroup and J.P. Morgan acted as underwriters.

The transaction required Herzog Fox & Neeman to work on multiple fronts, including a plethora of regulatory agencies such as the Government Companies Authority, the Electricity Authority, The Israeli tax authority, the Tel Aviv Stock Exchange, and others. Herzog Fox & Neeman teams worked on this transaction for over six months and required expertise of Herzog Fox & Neeman corporate, securities, tax, environmental, and labor teams. The transaction was led by Nir Dash, Ron Ben-Menachem, Yehuda Hommfor, Uri Stern, Helina Levy, Eldad Chamam, Hen Tirosh and Eyal Malka.

To read more about this (in Hebrew) – click on the links below.

Calcalist

The Marker