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Ramat Gan, October 21 2015


To: To:


The Securities Authority The Tel Aviv Securities Exchange Ltd.


Via MAGNA Via MAGNA


Re: Immediate Report on Signing Agreement with Citibank


We hereby give notice that yesterday the Company signed an agreement with Citibank to receive a loan (non-recourse) in the sum of 200 million Swiss francs. The loan is guaranteed by a basket of collateral worth 400 Swiss francs, which includes PSP, FCR and Amot shares. It was agreed that the ratio of the loan to the value of the basket of collateral (LTV) shall not exceed 60%. The loan bears a yearly interest rate of LIBOR plus a 2% margin. The interest on the loan (which features the above - mentioned margin and changes every six months) for the first period is at a yearly rate of 1.33%. The loan's redemption date is January 2019.


The loan is a refinance of two existing loans the Company received from Citibank, one loan in the sum of 100 million Swiss francs and an additional loan in the sum of 100 million Canadian dollars, so that upon closing, which is supposed to take place in the next few days, the Company shall receive a cash flow surplus of 26 million Swiss francs (104 million NIS).


Respectfully,


Alony Hetz Assets and Investments Ltd. By: Nathan Hetz, CEO

Moti Barzilay, Executive Vice President of Business Development

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