From Earlier: Ampal Reaches Agreement in Principle on a Proposed Outline with the Series B Debenture Holders' Committee

Ampal-American Israel Corporation AMPL announced today, following its previous announcements dated January 18, 2012, January 22, 2012, March 5, 2012 and March 6, 2012, that Ampal has reached an agreement in principle on a proposed outline for arrangement with Ampal's Series B Debenture holders' committee, formed by the Series B Debenture holders. The Term Sheet sets out the proposed guiding principles for a detailed agreement to modify the terms of all of Ampal's outstanding Debentures. Ampal intends to seek the consent of the committee elected by Ampal's Series A and Series C Debenture holders to the Term Sheet. According to the Term Sheet, Ampal will postpone all of the principal payments due to all of its Series A, Series B and Series C Debentures by two years, and will continue to make interest payments due to all of its Debentures, in accordance with the original amortization schedule.