Halal Communications is asking the bondholders to postpone the bond payment

Halal Communications is asking the bondholders to postpone the bond payment that was scheduled for the end of the month, by one month. Halal requests that she be given the option of postponement in a month, which does not bode well. Khalal appealed to its bondholders to postpone the payments for one month, asking the trustee to make use of his right and postpone the payments for another month as needed. Yesterday, the company's bondholders approved the postponement of the payments by one month.
At the beginning of the year, a space was caught in a kind of control struggle between Four G, the Hungarian communications company and the businessman Aaron Frankel, when at the end of the day the Hungarian company acquired 20% of the company.
  Hallel deals in the field of satellite communications and is actually the cutting edge of Israel's civil space industry. In recent years, the company has suffered from the loss of a satellite and the explosion of another satellite during launch, but since then a lot of water has flowed under the bridge and the company had to deal with the departure of a significant customer - the yes satellite television company, which is slowly switching to broadcasting instead via satellite, via the fiber internet network.
Halal owns a debt of NIS 1.2 billion to the bond holders, with all the debt being short-term debt. This year the company is supposed to pay NIS 459 million and next year it is supposed to pay NIS 662 million.
Halal ended the first quarter of this year with revenues of NIS 87.5 million and a net loss of NIS 6.6 million, compared to revenues of NIS 76.6 million in the first quarter of last year, and even then it lost NIS 6.9 million.
Yesterday, the bond holders of Halal approved the request to postpone the bond payments, subject to balance payments. It should be remembered that since the first quarter of this year the company has been conducting a type of negotiation with the bond holders about the payments due to them, when in the reports for the first quarter of the year it clarified that in light of the increase in yields in the bond market, it fears that it will have difficulty raising additional money, which leaves the option to raise capital.
We will also mention that since the middle of 2022, a reason for repayment has arisen for the company's bond holders after the auditors attached a "going concern" note to it.