ICL Announces Private Offering of Additional $93.1 Million Senior Notes

TEL AVIV, Israel, Dec. 3, 2020

"We are pleased to have leveraged the current attractive market conditions to secure an additional $120 million of long-term debt at a 4% effective yield, as an expansion of our series F senior unsecured notes due in 2038," said Kobi Altman, ICL's CFO.  "This is in addition to the action we took in the third quarter to solidify our financial strength, which included the renewal of our five-year $300 million securitization facility and the extension of our $900 million credit facility to 2025."

The additional notes will be part of the same series as the previously issued $600 million aggregate principal amount of ICL's 6.375% senior unsecured notes due 2038.  The additional notes will have terms identical to the initial notes, except with respect to the date of issuance, the issue price, the initial interest accrual date and the initial interest payment date.  The additional notes and the initial notes will be treated as a single class of securities under the indenture governing the notes, and an application has been made to list the additional notes on the system of the Tel Aviv Stock Exchange for trading by institutional investors, known as TACT Institutional.

ICL intends to use the net proceeds from the offering for general corporate purposes, which could include acquisitions, debt repayment, capital expenditures or investments.

About ICL

ICL Group LTD is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets.  ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.

For more information, visit the company's website at www.icl-group.com.