By Toni Weeks
San Diego, Dec. 13 - Gazit-Globe Ltd. said it completed a public offering of its existing series K debentures in Israel on Thursday, raising about NIS 1 billion.
The debentures, which are due September 2024, carry a coupon of 5.35%, Israeli CPI-adjusted, and were offered at a price of NIS 1.1325 for every NIS 1 principal amount of debentures, reflecting a yield of 4.17%. The duration is about 7.8 years.
As previously reported, the series K debentures were initially issued under a shelf offering report dated Sept. 4, 2011.
The debentures have a domestic credit rating of Aa3 with a stable outlook by Midroog, a Moody's subsidiary, and a domestic credit rating of ilA+ with a stable outlook by S&P Maalot.
The debentures were offered by an underwriting syndicate led by Leader Capital Markets and Clal Finance.
Proceeds will be used to reduce the balance under the company's revolving credit facilities and for general corporate purposes.
Gazit-Globe is a real estate company based in Tel Aviv.
| Issuer: | Gazit-Globe Ltd.
|
| Issue: | Series K debentures
|
| Amount: | NIS 1 billion (approximate)
|
| Maturity: | September 2024
|
| Price: | NIS 1.1325 per NIS 1 of series K debentures
|
| Coupon: | 5.35%
|
| Yield: | 4.17%
|
| Underwriters: | Leader Capital Markets and Clal Finance (leads), Barak Capital, Excellence Investments, Poalim IBI, Leumi Partners, Discount Capital Markets & Investments, Meitav Investment House and Apex Investment
|
| Settlement date: | Dec. 12
|
| Rating: | Midroog: Aa3
|
| S&P Maalot: ilA+
|
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