shekel versus dollar 521.
(photo credit: REUTERS)
Companies raised NIS 11.4 billion in debt and equity on the Tel Aviv Stock
Exchange in the second quarter of 2011, 40 percent more than in the
corresponding quarter of 2010, according to Rosario Capital Ltd.
million was raised in ten equity offerings.
62% of the c in
the second quarter were by companies with at least an Adebt rating. These
companies raised NIS 9.9 billion - 93% of the total debt raised during the
quarter. There were 45 debt offerings altogether, 21 of which were expansions of
The largest debt offerings came from Bezeq Israeli
Telecommunication Co. Ltd. – NIS 3 billion; Bank Hapoalim – NIS 1.2 billion;
Mizrahi Tefahot Bank – NIS 900 million; Orange franchisee Partner Communications
Ltd. – NIS 680 million; and Paz Oil Company Ltd. – NIS 630 million.
the debt offerings were of Consumer Price Index-linked bonds, amounting to NIS 5
billion, or half of all debt raised. Rosario Capital said that hikes in the the
interest rate have increased the number of offerings of unlinked variable
interest bonds from three offerings raising NIS 300 million in the first quarter
to 11 offerings raising NIS 3.2 billion in the second quarter.
accounted for half the equity raised during the second quarter. Renault and
Nissan importer Carasso Motors Ltd. raised NIS 250 million; Energix
Renewable Energies Ltd. raised NIS 146 million; and Victory Supermarket Chain
Ltd. raised NIS 64 million, 4.5 times the ratio of IPOs to total equity raised
in the first quarter. The amount of equity raised was sharply lower than in the
corresponding quarter of 2010, which included the unusually large NIS 2.5
billion offering by Azrieli Group Ltd.
NIS 970 million was raised in 20
equity offerings in the first half, including NIS 590 million raised in IPOs.