TEL AVIV, Israel, May 18, 2020 – — ICL Group LTD (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today it has concluded the public tender for the increase of its existing Series G Debentures offering in Israel. Following the results of the public tender in Israel, the Company shall issue in the offering an aggregate principal amount of approximately NIS 386 million (about $110 million) Series G Debentures, at a price of NIS 965 (about $276) per each unit of 1,000 Series G Debentures and for total gross proceeds of approximately NIS 373 million (about $107 million). The Series G Debentures will be listed for trading on the Tel Aviv Stock Exchange. Following completion of the offering, an aggregate principal amount of NIS 766 million (about $219 million) Series G Debentures will be issued and outstanding.
The offering was made pursuant to the Company’s supplemental shelf offering report filed in Israel on May 14, 2020, in connection with a takedown from the Company’s Israeli shelf prospectus dated March 4, 2019.
The Company intends to use the net proceeds from the offering to partially repay amounts outstanding under its Revolving Credit Facility Agreement, dated March 23, 2015, as amended on October 29, 2018, and for general corporate purposes.
For additional details, see the Company’s Report on Form 6-K furnished to the U.S. Securities and Exchange Commission on May 14, 2020.
The offering described in this announcement was made only in Israel and only to residents of Israel. The securities will not be registered under the U.S. Securities Act of 1933, as amended, and will not be offered or sold in the United States. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
This announcement contains statements that constitute “forward-looking statements”, many of which can be identified by the use of forward-looking words such as “anticipate”, “believe”, “could”, “expect”, “should”, “plan”, “intend”, “estimate” and “potential”, among others. Forward-looking statements in this announcement include, but are not limited to, statements regarding the completion of the offering and the intended use of net proceeds from the offering. Forward-looking statements are based on our management’s beliefs and assumptions when those statements are made and on information currently available to our management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, the risk factors discussed under “Item 3 – Key Information— D. Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended December 31, 2019 filed with the U.S. Securities and Exchange Commission (SEC) on March 5, 2020, as updated in the Company’s report for the three months ended March 31, 2020, furnished by the Company to the SEC in its Report on Form 6-K on May 12, 2020. The Company does not undertake any obligation to update or revise its forward-looking statements in light of new information or future events or circumstances, except as may be required by law.
Name of the authorized signatory on the report and name of authorized electronic reporter: Aya Landman, Adv.
Position: Company Secretary
Signature Date: May 18, 2020
ICL Group LTD is a global specialty minerals and specialty chemicals company operating bromine, potash, and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL’s existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL’s operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Ag Solutions. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion. For more information, visit the Company’s website at www.icl-group.com.
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