Israel’s national water company raises NIS 1.2 billion in bonds
Israel’s national water company, Mekorot has raised NIS 1.2 billion in bonds.
Ranked at the maximum credit rating of ilAAA for 19 consecutive years, Mekorot, until 2018, had made investments reaching only NIS 800 million a year. With the signing of the reform in 2019, the investment plan was increased to NIS 1.5 billion a year.
Amit Lang, the incoming CEO of Mekorot, noted that “the debt raising is another step in the implementation of the government decision regarding the reform of the company.”
The CEO announced a three-year drive for the company to increase its presence inside and outside Israel.
Mekorot’s plans include the infrastructure required to connect Israel’s desalination systems with the Jordanian water network under the historic water supply deal agreed in Abu Dhabi last year.
