By Susanna Moon
Chicago, Jan. 23 - Gazit-Globe said it plans a private placement of series D debentures with options to purchase series K debentures for NIS 225 million. The issuance is an extension of two existing series of debentures.
If the options are exercised, the total amount will be NIS 450 million.
The issuance of series D notes totals NIS 185 million par value and includes an additional 1.85 million options to purchase series K debentures.
Options are exercisable into series K notes until Feb. 29, 2012 at NIS 121.8 (CPI adjusted) for each NIS 120 par value of series K notes.
The series D notes have a yield of 4.8% (CPI indexed) and have a maturity of 6.7 years.
The debentures have a domestic credit rating of Aa3 with a stable outlook by Midroog and a domestic credit rating of A+ with a positive outlook by S&P Maalot.
Gazit-Globe is a real estate company based in Tel Aviv.
| Issuer: | Gazit-Globe Ltd.
|
| Issue: | Series D debentures with options to purchase series K debentures
|
| Amount: | NIS 225 million
|
| Maturity: | 6.7 years
|
| Coupon: | 4.8%
|
| Warrants: | 1.85 million
|
| Warrant strike price: | NIS 121.8
|
| Warrant expiration: | Feb. 29
|
| Pricing date: | Jan. 23
|
| Stock symbol: | NYSE: GZT
|
| Stock price: | $9.92 per share
|
| Market cap: | $1.65 billion
|
| Ratings: | Midroog: Aa3
|
| Maalot: ilA+
|
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