www.bethelfinance.com
Clal Finance research director Yuval Ben-Zeev told "Globes" today that the decision by Africa-Israel Investments Ltd. (TASE:AFIL) to consider bringing forward payments on the principle of its Series 26 Bond was "a creative move with positive potential. It is good for investors."
Ben-Zeev said that, in the past two years, Africa-Israel had adopted a very conservative payments policy, but that it was now considering a split by consent of its current bond into cash and a new bond. "Instead of sitting on cash for two years, I want to pay now and save on the interest payments," adds Ben-Zeev.
Asked about Africa-Israel's share, Ben-Zeev said, "At the current price, AFI Development plc (LSE:AFID) is an opportunity, albeit with risks, of course."
In a notice to the TASE this morning, Africa-Israel, controlled by chairman Lev Leviev, said that it was considering bringing forward payments on the principle of its Series 26 Bond to 2013-14, at a total investment of NIS 600 million.
Africa-Israel's share price rose 2.1% by early afternoon to NIS 12.87, giving a market cap of NIS 1.5 billion.
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