According to the agreement, Teshuva will raise NIS 400 million by the end of the year • Delek shares down 4% and Teva jumped 5% in Tel Aviv • President Trump announced he was "not interested" in resuming talks with China
The Tel Aviv Stock Exchange has recorded a slight fall on Monday, after leading TAs lost by up to 1.05%. Elbit Medical's share jumped more than 14% and Teva rose 5%.
On the other hand, Isaac Tshuva's share of fuel fell by more than 4%. This came after a particularly tense day, at the end of which the heads of the company reached agreements with its bondholders, enabling the answer to continue to hold gas for the time being and prevent the company's debt from being repaid immediately. Menorah and Harel supported the settlement agreement, while Pisgot opposed it.
According to the agreement, Teshuva will not enjoy the leeway to favor one creditor over another, and will be prohibited from pledging assets to banks - except by providing two weeks' advance notice to bond trustees to allow them to respond. Teshuva will raise NIS 400 million in three beats By the end of the month, the second is $ 100 million by the end of July and an additional 100 million by the end of 2020. If NIS 300 million is not raised by the end of July - fuel will face an immediate repayment of the debt of NIS 6 billion.
Meanwhile, Wall Street opened a lazy trading day, with minor changes in all indices, against the backdrop of the Federal Reserve's announcement of corporate bond purchases, ie throwing a lifeline to companies whose chances of survival are low. Trump will benefit from $ 750 billion in buying power.
Meanwhile, President Trump continues to demand accountability from China for its "promiscuous, and possibly even criminal," behavior, which has led to the outbreak and spread of the world's corona virus. Speaking to reporters at the White House, the president said he "did not want" to resume talks with Beijing regarding Phase A of the trade agreement, which was signed in January before the outbreak of the virus in the West. "I have no such intention, not even a little bit," Trump clarified as to whether he would agree to open the agreement, "Let's see first if they will comply with the agreement they signed."
Under the agreement, Chinese import tariffs on the US will be $ 380 billion, and at the same time the Chinese will commit to purchase US $ 200 billion in goods over the next two years. Shortly after Trump's statement, the Chinese signaled their desire to please the president, with the purchase of about a quarter of a million tons of bran from American ranchers.
The Fox Network even reported that Trump had banned US pension companies from investing in Chinese companies. It's about $ 4 billion in assets.