HAIFA, Israel, May 3, 2012 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ and TASE: ESLT) (the "Company"), announced today that it has agreed with Israeli institutional investors to issue in a private placement up to NIS 92,283,000 par value (approximately $24.4 million) additional Series A Notes (the "Additional Series A Notes") in consideration for an aggregate sum of approximately NIS 94.7 million (approximately $25 million).
If issued, the terms of the Additional Series A Notes will be similar to the terms of the Series A Notes previously issued by the Company in June 2010 and in March 2012, in accordance with the Company's shelf prospectus dated May 18, 2010 (the "Shelf Prospectus") and the shelf offering reports of June 2010 and March 2012, respectively and which are currently traded on the Tel Aviv Stock Exchange Ltd. ("TASE"). The Additional Series A Notes, if issued, will form a single series together with the currently outstanding Series A Notes, thus completing the aggregate par value of Series A Notes issued by the Company to the maximum of NIS 2,000,000,000 available to the Company for Series A Notes pursuant to the Shelf Prospectus.
The issuance of the Additional Series A Notes is subject to the receipt of the approval of the TASE for the listing of the Additional Series A Notes for trade on the TASE.To the extent issued, the sale and/or transfer of the Additional Series A Notes are subject to the limitations on re-sale of securities set forth in the Israeli Securities Law of 1968 and the regulations promulgated thereunder applicable to private placements. The Additional Series A Notes, if issued, will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. Persons (as defined in Regulation "S" promulgated under the Securities Act) without registration under the Securities Act or an exemption from the registration requirements of the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, including the Additional Series A Notes.
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