Milbank, Tweed, Hadley & McCloy has represented Citigroup Global Markets Inc. and Barclays Capital Inc. in underwriting a series of four major debt offerings by Israel Electric Corporation Ltd. with an aggregate value of $1.4 billion.
The Milbank deal team was led by New York-based Securities partner Rod Miller; also working on the transactions were associates John Ablan in New York and Jonathon Jackson in London.
Haifa-based Israel Electric is more than 99% owned by the Israeli government and generates substantially all of the electricity used in Israel and the Palestinian Territories. Its current financings were comprised of the following offerings:
- $600 million in 5.625% notes due 2018
- $500 million of 6.875% notes due 2023
- $150 million in 5.625% notes due 2018
- $150 million of 6.875% notes due 2023
The offerings were made through the company’s medium-term note program.
