Michman will make its own purchase of bonds in the amount of up to 10 million NIS Michman grants credit to small and medium-sized businesses in the economy, mainly against receiving deferred relays The extent of the credit portfolio managed by the company amounts to approximately NIS 650 million | In February, the company became public and is traded on the Tel Aviv Stock Exchange
Shay Klein 09/22/2022
Michman Credit for Business, the non-bank credit company, announced yesterday that it intends to make a self-purchase of B bonds in the amount of up to 10 million NIS. Series B bonds are rated ilBBB with a positive outlook by Ma’alot P&S and have a maturity of 2.21 years.
Reasons of the company’s board of directors for carrying out the purchase plan: “The price at which the company’s bonds (series B) are traded as of the date of the decision is attractive and represents a proper business opportunity for the company and is there to improve the company’s credit.”
Michman is in an accelerated and continuous growth trend. The increase in the company’s credit portfolio from quarter to quarter reflects the high demand for credit and the company’s products from customers – small and medium businesses.
Doron Sapir, the company’s chairman and Viniv Biton, CEO of Michman Credit for Business said: “The company’s self-purchase of bonds testifies to the company’s confidence in its operations, its business and its financing ability. We see the price created in the company’s bonds as an opportunity that will create a financial profit for the company. Michman is constantly expanding its presence in the credit market and its portfolio of solutions in light of the growing demand for credit from its customers and continues to develop and grow while paying attention to the quality of underwriting, control and operational processes.”
The Michman company established in 2015 by Yaniv Biton is a company that provides credit to small and medium-sized businesses in the economy, mainly against the receipt of delayed relays. As of August 2022, the scope of the credit portfolio managed by the company amounts to approximately NIS 650 million. In February 2021, Michman became a public company with the issuance of its shares to the public on the Tel Aviv Stock Exchange.
The chairman of the company is Doron Sapir and the CEO and founder of the company is Yaniv Biton.