Milbank LLP has advised the dealers in connection with the issuance of US$500 million 3.750% Notes due 2032 by The Israel Electric Corporation Limited (“IEC”). IEC is the largest supplier of electrical power in Israel. The State of Israel holds 99.85% of IEC’s shares.
The proceeds of the offering will be used to finance IEC’s capital investment program, refinance certain existing debt and for general corporate purposes. The Notes were issued under IEC’s US$7.5 billion Global Medium-Term Notes Program.
The Milbank team was led by Capital Markets partners David Dixter and associates Maria C. Schweinberger, Santiago Barraza López and Michele Scansani. The team also included New York Tax partner Andrew Walker.
