80OA Qnb Fin 35

 

TIDM80OA 
 
RNS Number : 3498P 
Bank Hapoalim B.M. 
24 March 2009 
 

Head Office 
63 Yehuda Halevi St., Bank Hapoalim Bldg., Tel Aviv 65781 
Tel: 972-3-5673800; Fax: 972-3-5674576 
 
 
Date: March 22, 2009 
Reference: 802/09 
+-------------------------------------------+ 
| To:The London Stock Exchange              | 
+-------------------------------------------+ 
 
 
 
 
Dear Sir or Madam, 
 
 
 
 
RE:Immediate Report 
 
 
Bank Hapoalim B.M. (hereinafter: "the Bank") is pleased to advise, further to 
the immediate report published on 3rd March, 2009 (Number 048738-01-2009), as 
follows; 
 
 
On 18th March, 2009 the Bank received the approval of the Supervisor of Banks 
for the payment at their scheduled time of interest payments on account of 
Subordinated Capital Notes (Series A) which the Bank issued under a prospectus 
which was published in November 2001 (hereinafter: "Capital Notes") and on 
account of additional subordinated capital notes which were issued by way of 
private issues (Series B and C) in the month of February 2004 and the month of 
November 2007 (hereinafter: "the Tier I Capital Notes"), notwithstanding that 
there may occur the suspensive circumstance according to which during six 
consecutive quarters the Bank did not report a cumulative net profit 
(hereinafter: "the Suspensive Circumstance"). 
 
The Supervisor confirmed that payment of the interest on account of the Capital 
Notes and the Tier I Capital Notes, even if there exists the Suspensive 
Circumstance, would not affect their inclusion in the Tier II and Tier I capital 
of the Bank (as the case may be). 
 
 
Further to the aforesaid confirmation of the Supervisor, the trustee gave notice 
on 19th March, 2009 to the holders of the Capital Notes and the Tier I Capital 
Notes that he gives his consent to the payment of the interest on account of the 
Capital Notes and the Tier I Capital Notes, even if there exists the Suspensive 
Circumstance. 
 
 
In the light of having received the confirmation of the Supervisor of Banks and 
the consent of the trustee as aforesaid, the Bank will make payment in full to 
the holders of the Capital Notes and the Tier I Capital Notes of the interest 
due to them on account thereof, such payment to be made at the times fixed for 
effecting payment of the interest, even if there exists at such times the 
Suspensive Circumstance. 
 
 
Yours faithfully, 
 
 
Bank Hapoalim B.M. 
 ( - )                                               ( - ) 
 
 
+------------------------------+---+--------------------------------+ 
|       Yacov Haimovich        |   |        Yoram Weissbrem         | 
|    Head of ALM Division      |   |     Secretary of the Bank      | 
+------------------------------+---+--------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCIIFVRVFISFIA 
 

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