Nofar Energy Secures 850 Million NIS in Institutional Bond Tender
Nofar Energy, owned by Ofer Yannay, secured 850 million NIS in early commitments during its Series F bond tender, which drew 1.18 billion NIS in institutional demand.
Nofar Energy, owned by businessman Ofer Yannay, has successfully completed the institutional stage of its offering for a new series of corporate bonds (Series F). During the tender, which attracted classified institutional investors, the company received high demand totaling approximately 1.18 billion NIS. Due to this oversubscription, the company chose to accept early commitments of approximately 850 million NIS.
The Series F bonds are non-index-linked and have a duration of approximately 6.4 years. The annual interest rate determined in the institutional tender is 6.20%. The company announced its intention to hold the public tender in the coming days. The completion of the offering is subject to the publication of a shelf offering report, an updated rating from Midroog, and obtaining all legally required approvals.
Ofer Yannay, CEO of Nofar Energy, stated:
"We thank the capital market for this expression of confidence. We intend to use the proceeds of the offering to redeem bond Series A and Series E, as well as to support our accelerated growth needs in light of the significant transactions we have recently executed."
Yannay added that the current capital raise is another milestone in implementing the company's consistent strategy of efficient capital raising, smart financial leverage, strategic acquisitions that generate immediate value, and asset appreciation and realization to generate additional capital sources for continued growth.
