NEW YORK (Dec. 20)
A $3,000,000 offering of ten year 5-1/2 percent 6-1/2 percent sinking fund debentures is being made by AMPAL American Israel Corporation, with Israel Securities Corporation serving as the underwriter, it was announced here today. Net proceeds of the offering will be used primarily to develop and expand agricultural, industrial and commercial enterprises in Israel.
The debentures bear an interest rate of 5-1/2 percent per annum during the eight years beginning July 1, 1965 and terminating June 30, 1973, and 6-1/2 percent per annum during the two year period commencing July 1, 1973, and ending June 30, 1975. Issued as coupon debentures in denominations of $500, $1,000, $5,000, and $10,000, they may be redeemed at Ampal’s option on any date prior to maturity on 80 days’ notice.