EL AL’s response to announcements about a loan agreement with Bank Leumi and Discount

A report to the stock exchange stated: “The company continues to negotiate with financing bodies and the state as stated and the negotiations have not yet been formulated into a loan agreement and the terms of the loan outline cannot be approved.”

EL AL's response to announcements about a loan agreement with Bank Leumi and DiscountEl Al planes. . PR photo

This morning it was reported in several media outlets that El Al is about to sign a loan of $ 300 million with Bank Leumi and Bank Discount. It was also reported in the publications that the Treasury agrees to the move after Eli Rosenberg transferred funds to the company

El Al response in a report to the stock exchange:

“This report was submitted in response to the publications this morning, January 21, 2021, in the media regarding the Company’s discussions with Bank Leumi and Discount Bank regarding the loan to the Company.

Continuing with Note 1 to the Company’s financial statements for September 30, 2020, published on December 8, 2020 (reference 2020-01-125737) regarding negotiations with financiers and the state for a loan that will be guaranteed for the most part by the state guarantee (loan outline) and with regard to such publications in the media. The company clarifies that as of this date, it continues to negotiate with financing bodies and the state as stated, and the negotiations have not yet been formulated into a loan agreement and the terms of the loan outline cannot be approved. ”

An abbreviated address for this article: https://www.ias.co.il?p=113641

Source: IAS by www.ias.co.il.

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