Formula Systems (FORTY) has released an update.
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Formula Systems has successfully completed a Series D Debenture offering, raising NIS 150 million for general corporate use, including potential debt refinancing and future investments. The debentures, backed by liens on shares of the company’s subsidiaries, will pay an annual fixed interest rate of 5.68% with principal repayments starting in 2027. The offering, conducted via a two-stage bidding process, was oversubscribed, with investors receiving 99.79% of their ordered amounts.
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