Delek Energy (TASE:
) deferred its bond placement with Tel Aviv institutionals from Wednesday to today, Thursday, TheMarker has learned.
The company is trying to raise NIS 80 million under better terms.
Under the original terms, the bonds were supposed to yield holders ongoing interest of 6%, and additional accruing interest of 1.75% for anybody holding the bond until maturity in 2010.
Maalot has rated the bonds AA-minus.
Yet demand for the bonds was low, despite guarantees provided by
Delek Drilling (TASE:
Delek Energy and its underwriters therefore decided to offer another option, in which investors would get the whole package on an ongoing basis which translates to annual interest of 7.75%.
The underwriters commented that Maalot had caused the delay by belatedly publishing its rating on Tuesday.
Delek Energy yesterday reported losing NIS 6.6 million in the stock exchange, which reduced its shareholders equity to NIS 15.4 million. For the first half, the company lost a net NIS 12.1 million.
The Delek group is controlled by Yitzhak Tshuva.