Business Services Industry

Israeli Companies Issuing Convertible Bonds.(Comverse Technology)(Brief Article)

Israel Business Today, November, 2000

Due to the rapid expansion of many of Israel's Nasdaq listed high tech companies, some were contemplating secondary share offerings to raise more capital. Because market conditions for high tech have lately become so sour, most Israeli high tech companies have cancelled these intentions. Comverse technology, one of Israel's high flying high techs that develops software for multimedia and information processing as well as computer and telecommunication systems, decided that instead of a secondary share offering it would join the growing list of Israeli companies issuing convertible bonds.

The Comverse convertible bond issue with a face value of $500 million carries a low annual interest rate of 1.5 percent. Investors who believe Comverse has a bright future did...

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