XML 34 R19.htm IDEA: XBRL DOCUMENT v3.23.1
Long-Term Loans, Net of Current Maturities
 12 Months Ended
Dec. 31, 2022
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:

 

Loan currency  Weighted interest
rate as of
December 31,
2022		   December 31, 
   %   2022   2021 
             
NIS   6.68%  $1,880   $1,421 
                
Less - current maturities        (586)   (740)
                
        $1,294   $681 

 

1.In October 2017, the Company and its Israeli subsidiaries entered into an agreement with First International Bank of Israel Ltd. (hereinafter – the Bank), for the provision of credit facilities. The Bank loan agreement includes covenants to maintain certain financial ratios related to shareholders’ equity, EBITDA, and operating results. The Bank 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 its Israeli subsidiaries, owned now or in the future. As of December 31, 2022, the Company met the covenants set forth in the agreement.

  

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

 

   December 31,
2022		 
Payment schedule    
2023   586 
2024   144 
2025   140 
2026   128 
2027 - 2034 (*)   882 
Total  $1,880 

 

(*)The total amount to be paid by the Company every year from 2027 until 2034.

 

(**)As of December 31, 2022, the Company and its subsidiaries had an unutilized short term credit line in the amount of $1,354, bearing an annual interest of 6.29%.