Bank of America just raised its EUR/USD forecast
Enlight Renewable Energy Ltd (NASDAQ:ENLT). (NASDAQ: ENLT, TASE: ENLT) announced today the successful tender results for its Series G and Series H notes, securing approximately $235 million from classified investors. The company, based in Rosh Ha’ayin, Israel, stated that the tenders were part of a planned note offering in Israel, initially disclosed on February 10, 2025. According to InvestingPro data, Enlight operates with a total debt of $3.23 billion, though maintains strong liquidity with a current ratio of 1.22.
The tenders, which took place today, offered Series G notes at a fixed annual interest rate of 5% and Series H notes at a fixed annual interest of 4%, the latter being convertible into the company’s ordinary shares. The conversion terms for Series H notes allow investors to convert at two different periods, with the first period offering a conversion rate of one share per 80 NIS of note value, and the second period offering one share per 1,000 NIS of note value.
In the institutional tender for Series G, classified investors committed to purchasing 468,784 units at a minimum price of 971 NIS per unit, resulting in gross proceeds of approximately $119 million. For Series H, the commitments amounted to 414,847 units at 1,000 NIS each, totaling around $115.8 million in gross proceeds. The company, currently valued at $2.06 billion, has demonstrated impressive revenue growth of 47.8% and maintains strong gross profit margins of 78.65%. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with 10+ additional insights available to subscribers.
These offerings are subject to regulatory approvals, including the approval of the Tel Aviv Stock Exchange for listing the notes, and the company’s board of directors’ resolution. There is no certainty that these offerings will be completed as planned.
The net proceeds from the offerings are intended for investments in the company’s large-scale renewable energy portfolio across the United States, Europe, and MENA regions, as well as for other general corporate purposes. For detailed analysis of Enlight’s investment potential and comprehensive financial metrics, investors can access the full Pro Research Report, available exclusively on InvestingPro, covering over 1,400 top US stocks with expert insights and actionable intelligence.
Furthermore, Enlight Renewable Energy received a stable A2.il rating from Midroog for both Series G and Series H notes, confirming the rating for up to NIS 900 million on the date of the announcement.
The company has clarified that the offerings, should they proceed, will be conducted as per a shelf offering report and will only be available in Israel. The offerings are not directed at U.S. persons and are exempt from registration under the U.S. Securities Act of 1933, as amended.
This announcement is based on a press release statement and does not constitute an offer to buy any securities. The debentures will not be registered under the Securities Act and will not be offered in the United States without registration or an applicable exemption from registration requirements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.