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Ampal-American Israel Corporation, controlled by chairman Yosef Maiman, has published a new proposal for a debt settlement with its bondholders.

The proposal includes postponing payment of the principle on all of the company bonds by two years, and a $5 million cash payment to bondholders. Interest payments will continue on schedule and the interest rate on all the bonds will be increased by 1.25% a year during the postponement period. Bondholders series A & C, with debt of over 400 milion ILS, are represented by Ofer Shapira Adv..


/public/adam/pdf.jpg The proposal