The interest payable on the Series “L” debentures of AMPAL-American Israel Corporation has been raised to 6 percent from 51/2 percent, it has been announced by the company.
The Series “L” debentures of AMPAL, henceforth to be known as the Ten-Year 6-6 1/2% Sinking Fund Debentures, 1975, will pay the new interest rate of 6 percent for the period ending June 30, 1973. Interest at the rate of 6 1/2 percent will be paid for the two remaining years, to 1975. Abraham Dickenstein, president of AMPAL, attributed the action to the increase in prevailing interest rates on corporate obligations in the United States.
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