Navigation Links
Elbit Imaging Reaches an Understanding Regarding a Proposed Debt Restructuring
Date:2/27/2013

TEL AVIV, Israel, February 27, 2013 /PRNewswire/ --

Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today that it has reached a non-binding summary of terms with two of its major noteholders with respect to a proposed restructuring of the debt of the Company (the "Restructuring").

The summary of terms was reached among the Company, York Capital Management Global Advisors, LLC ("York") and Davidson Kempner Capital Management LLC ("DK", and collectively with York, the "Funds"). Funds and/or accounts managed by York and its respective affiliates hold, in the aggregate, approximately 20% and funds and/or accounts managed by DK and its respective affiliates hold, in the aggregate, approximately 15%, respectively, of the outstanding balance of the Notes (as defined below).

The parties to the summary of terms expressed their belief that the Restructuring is in the best interest of the Company and its creditors in order for the Company to maximize and unlock the true value of its assets.

The Restructuring

Pursuant to an arrangement under Sections 350-351 of the Israeli Companies Law, the outstanding balance under the Company's Series 1 and Series A to Series G notes (collectively, the "Notes") and any other unsecured loans of the Company (which together, as of February 26, 2013, equaled approximately NIS 2,464 million (approximately $660 million) would be converted into (a) Ordinary Shares, representing immediately following such conversion 86% of the total share capital of the Company on a fully diluted basis (excluding any new warrants to purchase Ordinary Shares that may be issued to Mordechay Zisser in consideration for Mr. Zisser's continued role in the Company going forward, as described below) and (b) new notes (the "New Notes") with an aggregate face amount of NIS 300 million (approximately $80 million) bearing interest at the rate of 8% per annum  
'/>"/>

SOURCE Elbit Imaging Ltd.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7

Related medicine technology :

1. Elbit Imaging to Suspend Interest Payments to All Note Holders
2. Elbit Imaging Ltd. Announces InSightecs ExAblate Neuro System Awarded European CE Mark for Non-invasive Treatment of Neurological Disorders in the Brain
3. Elbit Imaging Ltd. Announces Standard & Poors Maalot Changes Rating of Companys Notes
4. Elbit Imaging Ltd. Announces Second Quarter Results for 2012
5. Only Podiatric Surgeon In S. Florida That Performs In-Office Ultrasound Imaging On Foot & Ankle Problems Saving Patients Over $1,000 In MRI Expenses & Extra Trip To Hospital
6. Imaging for Women Enters Second Year of Meaningful Use Participation
7. European Diagnostic Imaging System Market Will Grow Modestly To Almost $2.2 Billion In 2017
8. Study Results of Dune Medicals Breast Biopsy System Presented at the Annual Meeting of the Israel Society of Breast Imaging
9. Breast Imaging Specialist Dr. Catherine D. Buhler Joins Radiologic Associates of Fredericksburg
10. Analysis of the U.S. Breast Imaging Systems Market
11. Interventional Cardiologists Cautious in Adopting Intravascular Imaging and Assessment Devices: Challenge to Manufacturers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/22/2014)... PLANTATION, Fla. , July 22, 2014  Neurotrope ... has signed a world-wide, exclusive license agreement with the ... ( Mount Sinai ) to ... use of Bryostatin-1 in the treatment of Niemann-Pick Type ... who are afflicted with Alzheimer-like symptoms. The license also ...
(Date:7/22/2014)... , July 22, 2014  According to the ... their children spend on digital devices. An AOA survey ... of 10 and 17 estimate they use an electronic ... a separate AOA survey of parents revealed that only ... electronic device for that same amount of time. Eye ...
(Date:7/22/2014)... MARCOS, Texas , July 22, 2014 Quantum Materials ... and Mr. John Heaton to the Board of ... by Dr. Ghassan Jabbour , QMC Chief Science Officer and ... Michael Wong of Rice University and Mr. Tomio ... Japan . " Quantum Materials welcomes ...
Breaking Medicine Technology:Neurotrope Enters Collaborative Agreement with Icahn School of Medicine at Mount Sinai for use of Bryostatin-1 in the Treatment of Niemann-Pick Disease Type C 2Neurotrope Enters Collaborative Agreement with Icahn School of Medicine at Mount Sinai for use of Bryostatin-1 in the Treatment of Niemann-Pick Disease Type C 3Neurotrope Enters Collaborative Agreement with Icahn School of Medicine at Mount Sinai for use of Bryostatin-1 in the Treatment of Niemann-Pick Disease Type C 4Neurotrope Enters Collaborative Agreement with Icahn School of Medicine at Mount Sinai for use of Bryostatin-1 in the Treatment of Niemann-Pick Disease Type C 5Survey Reveals Parents Drastically Underestimate the Time Kids Spend on Electronic Devices 2Survey Reveals Parents Drastically Underestimate the Time Kids Spend on Electronic Devices 3Survey Reveals Parents Drastically Underestimate the Time Kids Spend on Electronic Devices 4Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 2Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 3Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 4
... Jan. 3, 2012  theVisualMD, www.thevisualmd.com , the world,s leading ... initiative, The 9 Visual Rules of Wellness. Quest Diagnostics (NYSE: ... testing, information and services, is the official sponsor of the ... 9 Visual Rules of Wellness aim to bring readers a ...
...  Arena Pharmaceuticals, Inc. (NASDAQ: ARNA ) and Eisai ... the Complete Response Letter (CRL) issued by the US Food ... Drug Application (NDA). Lorcaserin is intended for weight management, including ... are obese (Body Mass Index, or BMI, >30) or patients ...
Cached Medicine Technology:theVisualMD Launches a Revolutionary New Visual Path to Wellness 2theVisualMD Launches a Revolutionary New Visual Path to Wellness 3theVisualMD Launches a Revolutionary New Visual Path to Wellness 4Arena Submits Response to FDA Complete Response Letter for Lorcaserin 2Arena Submits Response to FDA Complete Response Letter for Lorcaserin 3Arena Submits Response to FDA Complete Response Letter for Lorcaserin 4Arena Submits Response to FDA Complete Response Letter for Lorcaserin 5Arena Submits Response to FDA Complete Response Letter for Lorcaserin 6
(Date:7/22/2014)... Steven Reinberg HealthDay Reporter ... that break up blood clots deep in the veins of ... However, one results in a greater risk of bleeding and ... the other treatment, a new study finds. The standard ... (DVT) -- is blood-thinning medications and compression stockings. The other, ...
(Date:7/22/2014)... undergoing a minimally invasive hysterectomy using electric power morcellation, ... at the time of the procedure, according to a ... concern that this procedure, in which the uterus is ... of undetected malignancies. , Despite the commercial availability of ... the prevalence of malignancy at the time of electric ...
(Date:7/22/2014)... The American Society of Hematology (ASH) will present the ... for Lifetime Achievement in Hematology, to Kanti R. Rai, ... School of Medicine for his 50-year career combining landmark ... and exceptional patient care. , The Wallace H. ... on an individual who has been a vital contributor ...
(Date:7/22/2014)... mechanisms with cancer, according to a new report by ... , published in PLOS ONE on July ... very same inhibitors of apoptosis, or cell destruction, in ... diseases. Henry Kaminski, M.D. , chair of the ... and Health Sciences (SMHS), as well as colleagues from ...
(Date:7/22/2014)... Ticket Down is a reliable source ... Fedex Field in Landover, MD. There has never been a ... international soccer. After the success of the American national soccer team ... and well. One way that fans of the world’s sport will ... the 2014 Guinness International Champions Cup. The tournament will kick off ...
Breaking Medicine News(10 mins):Health News:Study Casts Doubt on Costly Treatment for Leg Clots 2Health News:Study Casts Doubt on Costly Treatment for Leg Clots 3Health News:Study examines presence of uterine cancers at the time of hysterectomy using morcellation 2Health News:ASH honors Kanti R. Rai, M.D., with Coulter Award for Lifetime Achievement 2Health News:ASH honors Kanti R. Rai, M.D., with Coulter Award for Lifetime Achievement 3Health News:ASH honors Kanti R. Rai, M.D., with Coulter Award for Lifetime Achievement 4Health News:New research finds pathogenic connection between autoimmune disorders and cancer 2Health News:Manchester United vs. Inter Milan Tickets Fedex Field Landover: Ticket Down Slashes Ticket Prices for Inter Milan ManU International Champions Cup Match in Washington, DC 2Health News:Manchester United vs. Inter Milan Tickets Fedex Field Landover: Ticket Down Slashes Ticket Prices for Inter Milan ManU International Champions Cup Match in Washington, DC 3
... of patients whose myelodysplastic syndrome is related to earlier ... have a poor prognosis, researchers from The University of ... Annual Meeting of the American Society of Hematology. ... or both treatments are usually told that they have ...
... of biological macromolecules are the central bases of ... cells by linking many small molecules together. Naturally ... A detailed understanding of the synthesis of these ... for understanding biological systems, and for the development ...
... smells apart is no problem for the human nose. How ... by an interdisciplinary team of researchers at the RUB. The ... of the three-dimensional structure of the binding site of an ... pattern of hydrogen bonds between odorant and receptor, which accounts ...
... News) -- Undiagnosed chronic fatigue syndrome may account for up ... for extended periods of time and are not truant or ... out of school, a new study reveals. For the ... 16 at three secondary schools in England and concluded that ...
... US Prostate Cancer Prevention Trial found cancer in many men ... which PSA level should lead to a biopsy recommendation. ... considerable controversy, that the evidence does not support recommending PSA ... the risks outweigh the benefits. Now, a study shows ...
... - Adding a drug that activates genes to frontline combination ... remission rate after initial treatment, researchers at The University of ... Meeting of the American Society of Hematology. Results of ... stage for a national Phase III clinical trial of the ...
Cached Medicine News:Health News:Prognostic model developed for MDS related to prior cancer therapy 2Health News:Prognostic model developed for MDS related to prior cancer therapy 3Health News:Visualization of DNA synthesis in vivo 2Health News:A good nose: RUB-Researchers decipher interaction of fragrances and olfactory receptors 2Health News:Chronic Fatigue Tied to Extended School Absences 2Health News:Biopsy referral after PSA screening stays consistent over time 2Health News:AML patients have high response rate with vorinostat added to treatment 2
... Flowmaster. It is a new portable digital flowmeter ... of use, simplicity and cost effectiveness are top ... now very easy to give a patient some ... and data will be send wirelessly to the ...
... the second generation of Urocap, ... zeroing, starting, stopping and printing. ... uroflowmetry parameters with superior low ... provides standard ICS nomenclature normative ...
... Uro-Guide Open Tip Ureteral ... silicone over-the-wire stents and ... design with an open ... of time-tested biocompatible silicone ...
... patient position during surgery is key to ... procedures. Not every patient is able to ... movements can compromise the procedure or necessitate ... Rousseau chin-lift stabilizer eliminates the "drifting that ...
Medicine Products: