IMMEDIATE REPORT

17 Oct, 2021

 

Ramat Gan, October 17, 2021
 
 
 
To                                                                           To
The Securities Authority                                The Tel Aviv Stock Exchange
www.isa.gov.il                                                  www.tase.co.il
 
 
 
 
IMMEDIATE REPORT
 
 
The company respectfully reports that on Thursday, October 14, 2021, it entered into an agreement with a banking institution whereby the bank provided the company with a loan in the amount of approximately NIS 500 million, at an average duration of 8.5 years (hereinafter: the “Loan”).
 
The Loan, which is not secured by any charges, is index-linked to Israel's Consumer Price Index (hereinafter: the “CPI”) and bears annual index-linked to CPI interest at a rate of 0.6%. The Loan’s principal will be repaid by the company in four equal annual installments, over the years 2029 through 2032.
 
In the loan agreement, the company warranted to meet financial covenants similar to the financial covenants prescribed in the series of bonds (Series H) of the company which is traded at the Tel Aviv Stock Exchange (hereinafter: the “Bonds”)[1]. The Loan’s average duration and the dates for the principal’s repayment are equivalent to those of the Bonds.
 
The company intends to use the Loan money to repay part of the short-term credit limits which the company used to pay for the purchase of Tzrifin Logistics Park[2].
 
 
         Respectfully,
Amot Investments Ltd.
 
 
Signed by: Shimon Abudraham, CEO
and Judith Zynger, Deputy CEO and CFO
[1] For more information on the terms of the bonds, see the promissory note of the bonds attached to the shelf offer report dated February 16, 2021.
 
[2] For more information on the purchase of Tzrifin Logistics Park, see immediate reports published by the company on September 12, 2021, September 14, 2021 and October 3, 2021 (Reference Numbers: 2021-01-077848, 2021-01-150027 and 2021-01-078895, respectively).