Ofer Yanai's Nofar Energy Raises Over $300 Million in Bond Offering

Nofar Energy, a company owned by businessman Ofer Yanai, has successfully completed the institutional phase for its new series of bonds (Series V). The offering attracted significant demand from institutional investors, reaching approximately 1.18 billion shekels (about $320 million USD). Due to the oversubscription, the company decided to commit to early obligations totaling around 850 million shekels (about $230 million USD).

The Series V bonds are not indexed to inflation and have an average term of approximately 6.4 years. The annual interest rate set during the institutional tender is 6.20%. Nofar Energy plans to conduct the public offering in the coming days, pending the publication of a shelf offering report, an updated rating from Midroog, and all necessary regulatory approvals.

Ofer Yanai, CEO of Nofar Energy, expressed gratitude for the capital market's confidence. He stated that the proceeds from the issuance will be used to redeem previous bond series (A and E) and to support the company's accelerated growth, driven by recent significant transactions. Yanai further elaborated that this fundraising effort aligns with the company's strategy of efficient capital raising, smart financial leverage, strategic acquisitions that create immediate value, and asset enhancement for further growth.