Israel Electric Company issues USD500m bonds
Israel Electric Corporation (IEC) completed a USD 500 million international bond offering underwritten by Citibank and Barclays, marking a significant debt-capital raise for Israel’s largest electric utility, which generates, transmits and supplies electricity across the country.
The offering forms part of the company’s broader market funding strategy and reflects continued investor support for utility-sector issuances in global markets.
Herzog Fox & Neeman acted as Israeli counsel to the issuer on the transaction, advising on regulatory, documentation and capital markets aspects of the offering. The legal team was led by partners Ron Ben-Menachem, Yehuda Aharoni, Eldad Chamam, Dr. Ehab Farah, Mohammad Mawasi, and Michal Gladstein (capital markets), with support from associates Matan Bouskila and Ron Cohen.
Meitar represented Citibank in connection with the offering. The team included partners Shachar Hadar, Clifford Felig, Matthew Rudolph, Ezra Ives, Daniel Zach, Dr. Michael Bricker, and Victor Terner, and associates Elad Sharabani, David Shachor, Lihi Naziri, and Avraham Yurkevich (capital markets), as well as partner Hila Silverstein (labor and employment).
Cleary Gottlieb acted as legal counsel for IEC.
Milbank advised the dealers.
