Rogosin Enterprises, a publicly-traded company controlled by businessman Ezra Harel, will inform holders of its debentures this morning that it is likely to obtain the NIS 18.6 million needed in order to pay them. The first quarter of the debt was to be paid at the end of June, but because Rogosin was considered insolvent, and word had it that Harel would not back up the company, the trustee, Investec Bank (Israel), has called in a meeting of bond holders for today, to demand the bonds be cashed immediately. Apparently, Lidan, another company owned by Harel, will assist Rogosin to secure bank credit in order to pay up. For months now Rogosin's bonds have been selling at junk-bond returns of 50 percent.
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