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Long-Term Loans, Net of Current Maturities
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
LONG-TERM LOANS, NET OF CURRENT MATURITIES
NOTE 12:-LONG-TERM LOANS, NET OF CURRENT MATURITIES

 

Classified by linkage terms and interest rates, the total amount of the loans is as follows:

 

  Weighted interest
rate as of December 31, 2018		  December 31, 
Loan currency  %  2018   2017 
            
NIS  3.35 (Prime+1.75%)  $2,334   $3,028 
              
Less - current maturities      467    505 
              
      $1,867   $2,523 

 

In October 2017, the Company and its Israeli subsidiaries entered into an agreement with Bank Beinleumi for the provision of credit facilities, which were used to pay Bank Leumi loans amounting to $2,976. The balance of long term loans as of December 31, 2017 amounted to $3,028. The agreement includes covenants to maintain certain financial ratios related to shareholders' equity, EBITDA and operating results. The Bank Beinleumi credit facilities are secured by a first ranking fixed charge on any unpaid share capital of the Company, the goodwill of the Company, and any insurance entitlements in the Company's assets pledged thereunder, and a floating charges on all of the assets of the Company and our Israeli subsidiaries, owned now or in the future. As of December 31, 2018, the Company met the covenants set forth in the agreement. The loans will be paid in monthly equal installments for a period of 6 years.        

 

The total amount to be paid by the Company is as follows:

 

Payment schedule  December 31, 2018 
     
2019   467 
2020   467 
2021   467 
2022   467 
2023   466 
Total  $2,334