Dec. 20 (Bloomberg) -- Ampal-American Israel Corp. slumped to the lowest in three weeks in Tel Aviv trading after saying it would meet with debt holders to discuss a two-year postponement on the principal payment of some bonds.
The shares of Ampal, the owner of a 12.5 percent stake in the company that exports gas from Egypt to Israel, declined 6 percent to 1.27 shekels at 11:16 a.m. in Tel Aviv, the lowest intraday level since Nov. 28.
Ampal will discuss a 24-month postponement of the principal payments on the series A, B and C debentures that are listed on the Tel Aviv Stock Exchange, the company said toward the end of yesterday’s trading session.
--Editors: Claudia Maedler, Tim Farrand
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com -0- Dec/20/2011 09:23 GMT