Generation Completes NIS 1.2 Billion Bond Raise for Shikun & Binui Energy Acquisition
Translated & summarized from TheMarker by baba
Generation Capital completed a NIS 1.16 billion institutional bond raise for its new Series E bonds, receiving NIS 1.6 billion in bids. The funds are intended for the acquisition of Shikun & Binui Energy. The company also secured a NIS 2.2 billion credit line from Bank Hapoalim. The deal awaits approval from the Competition Authority and the Public Utility Authority.
The story in 5 lines · by baba
- Generation Capital raised NIS 1.16 billion in institutional debt for its Series E bonds.
- The bond offering received bids totaling NIS 1.6 billion.
- The funds are earmarked for the acquisition of Shikun & Binui Energy.
- Bank Hapoalim provided a NIS 2.2 billion credit line for the acquisition.
- The deal requires approval from the Israel Competition Authority and Public Utility Authority.
Generation Capital has announced the completion of a NIS 1.16 billion debt raise from institutional investors as part of its new bond series (Series E). The fund received bids totaling approximately NIS 1.6 billion. Participating institutional investors included Harel, Migdal, The Phoenix, Menora, Ayalon, Analyst, and Yelin & Mor.
This funding stage is crucial for the acquisition of Shikun & Binui Energy. The company also announced on Tuesday that it has secured a NIS 2.2 billion credit line from Bank Hapoalim to facilitate the purchase. The transaction's completion is contingent upon approvals from the Israel Competition Authority and the Public Utility Authority, which have not yet been granted.
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