Retalix planning $10 million notes offering

Profit for nine months rose to $3.4m, against $1.4m loss for parallel
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Retalix (Nasdaq:RTLX) (RTLX) may raise $10 million through an offering of convertible notes to institutional investors, TheMarker.com has learned.

The company, which provides computerized clearing systems, will be offering notes convertible to bonds at a premium of 20% above the market. Its issue will apparently be led by Tel Aviv-based Israel Brokerage and Investments.

Retalix will be offering relatively low interest of around Libor, around 3% a year. The comparatively low conversion ratio the company is expected to offer may explain why its stock sagged 6% in Tel Aviv Monday on high turnover.

Despite the global slowdown, Retalix has sustained growth. It posted $43.8 million revenue for the first nine months of the year, 91% up from the parallel period of 2000.

For the nine months it netted $3.4 million, or 28 cents per share, compared with losing $1.4 million in the parallel, or 13 cents per share.