XML 110 R87.htm IDEA: XBRL DOCUMENT v3.23.1
Debentures (Narrative) (Details)
₪ / shares in Units, $ in Thousands
1 Months Ended 12 Months Ended
Mar. 06, 2022
ILS (₪)
Apr. 07, 2020
ILS (₪)
Jul. 30, 2021
ILS (₪)
₪ / shares
Aug. 31, 2020
ILS (₪)
₪ / shares
shares
Jun. 30, 2019
ILS (₪)
₪ / shares
shares
Jun. 30, 2018
ILS (₪)
Dec. 31, 2022
ILS (₪)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Debentures [Line Items]                      
Debenture Current Liabilities               $ 15,832 $ 17,914    
Debenture Non Current Liabilities               369,905 387,651    
Debentures               385,737 405,565    
Equity               1,050,034 757,381 [1] $ 512,406 $ 388,310
Series E Debentures [Member]                      
Debentures [Line Items]                      
Debenture Current Liabilities               2,685 3,039    
Debenture Non Current Liabilities               24,854 31,116    
Debentures           ₪ 135,000,000   27,539 34,155    
Terms Of Debentures               • The debentures (Series E) are not linked to any index and will be repaid in 12 semi-annual payments, each at a rate of 3.5% of the principal of the debentures (Series E), and the last payment, at a rate of 58% of the principal of the debentures (Series E), which will be paid on March 1, 2025.   • The debentures bear fixed annual interest of 4.25%, to be paid twice per year, on March 1 and September 1 of each of the years 2018 to 2025 (inclusive), with last payment on march,1 2025.   • The effective interest rate on the debentures (Series E) is approximately 4.4%.   • The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security.          
Borrowings, interest rate           4.40%          
Equity | ₪           ₪ 200,000,000          
Maximum net financial debt | ₪           ₪ 10,000,000          
Maximum ratio between standalone net financial debt and net cap           70.00%          
Minimum ratio of equity to total balance sheet           20.00%          
Series F Debentures [Member]                      
Debentures [Line Items]                      
Par value of debenture | ₪ / shares       ₪ 1 ₪ 1            
Debenture Current Liabilities               13,147 14,875    
Debenture Non Current Liabilities               113,187 143,503    
Debentures         ₪ 222,000,000     126,334 158,378    
Terms Of Debentures             • The debentures are not linked to any index and are repayable in 7 payments, annual payments with the first 6 payments at a rate of 8% of the debentures' principal and the last payment in 2026 at a rate of 52% of the debentures' principal.   • The interest in respect of the debentures is 3.45% and will be paid twice per year.            
Equity | ₪         ₪ 375,000,000            
Maximum net financial debt | ₪         ₪ 10,000,000            
Maximum ratio between standalone net financial debt and net cap         70.00%            
Minimum ratio of equity to total balance sheet         20.00%            
Additional Debentures | ₪   ₪ 101,010,101                  
Additional Issuance Of Debenture | shares       234,860,000 485,765,875            
Consideration For Debentures | ₪   ₪ 100,000,000   ₪ 251,000,000              
Series C Debentures [Member]                      
Debentures [Line Items]                      
Par value of debenture | ₪ / shares     ₪ 0.1                
Debenture Current Liabilities               0 0    
Debenture Non Current Liabilities               131,385 100,995    
Debentures ₪ 164,363,000   ₪ 367,220,000         131,385 100,995    
Terms Of Debentures         • The debentures (Series C) are not linked to any index, have a par value of NIS 1 each, and are repayable in a single payment on September 1, 2028.   • The unpaid principal balance of the debentures will bear fixed annual interest of 0.75%, to be paid twice per year from 2021 to 2028 (inclusive).   • The unpaid principal balance of the debentures (Series C) is convertible into Company's ordinary shares, with a par value of NIS 0.1 each, in the manner specified below: (1) during the period from the date of listing of the series of debentures (Series C) on the TASE until December 31, 2023, each NIS 9 par value of the debentures (Series C) will be convertible into one ordinary share of the Company; and (2) during the period from January 1, 2024 to August 22, 2028, each NIS 24 par value of the debentures (Series C) will be convertible into one ordinary share of the Company.   • In 2021 Midroog Ltd. updated the rating of the debentures (Series C) which the Company issued, from A3.il to A2.il, stable rating outlook.                
Description of par value     price of 95.1 agorot per NIS 1 par value                
Consideration For Debentures | ₪ ₪ 155,800,000   ₪ 349,226,000                
Series D Debentures [Member]                      
Debentures [Line Items]                      
Debenture Current Liabilities               0 0    
Debenture Non Current Liabilities               100,479 112,037    
Debentures             ₪ 385,970,000 $ 100,479 $ 112,037    
Terms Of Debentures               • The debentures (Series D) are not linked to any index, each with a par value of NIS 1, are repayable in 2 equal payments and which will be paid on September 1 2027 and 2029.   • The unpaid principal balance of the debentures bears fixed annual interest of 1.5%, to be paid twice per year, from 2021 to 2029 (inclusive).   • The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security (as this term is defined in the Securities Law).        
Equity | ₪             ₪ 1,250,000,000        
Maximum ratio between standalone net financial debt and net cap             65.00% 65.00%      
Minimum ratio of equity to total balance sheet             25.00% 25.00%      
Description of par value             price of 90.8 agorot per NIS 1 par value        
Consideration For Debentures | ₪     ₪ 350,461,000                
Equity After Distribution | ₪             ₪ 1,500,000,000        
[1] Total Capital reserves of 30,469 (USD in thousands)