As the Bank of Israel raised interest rates, there has been a string of companies raising financings in the past week. Financing was closed on the NIS 2.7 billion acquisition of the Ashdod desalination facility with Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron acting for the financiers, while Gross Law Firm represented the buyers and Meitar represented Bank Leumi and the lenders.
Storage processor developer Pliops, represented by Herzog, Fox & Neeman, raised USD 100 million Series D financing, while Sapir Corp Ltd. raised USD 89 million from the Israeli bond market, with Chapman and Cutler involved in the transaction. In fact, this week we learn more about Chapman’s Israel practice, speaking with its Israel head, Michael Friedman.
Lipa Meir represented Bank Hapoalim in one of the most important cases in Israel with regards to lenders liability and basic legal issues concerning banking and finance.
And the bigger regional picture looked bright, as Israel-UAE trade reached USD 1.4 billion in first 7 months of 2022, and two Israeli energy companies announced plans to launch renewable energy projects in seven Arab countries. Domestically, Shibolet partner Michal Ohana examines the changes expected due to the increase in the interest rate in a podcast.
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