Just days after announcing plans to raise NIS600 million (US$150 million) through a private bond placement, Adama, the world’s largest producer of unbranded agricultural insecticides, announced the completion of an oversubscribed Series B bond offering which raised NIS690 million (US$172 million), after demand ended up being triple what was expected. Participants were also offered the option to purchase additional bonds totaling NIS267 million (US$66.5 million), which if executed would increase the volume of the issue by an additional NIS300 million (US$87.3 million). The Series B offering bears 5.15% interest and is due to repayment between 2020 and 2036. Adama plans to use the funds to recycle debt to banks and its bondholders, and toward the acquisition of three companies in China. To read further:
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