By Marisa Wong and Susanna Moon
Madison, Wis., May 3 - Gazit-Globe Ltd. said it received a total of NIS 174.85 million from the private placement of NIS 130 million of series J debentures together with 2.6 million options to purchase series K debentures.
The series J debentures and options were packaged together and issued at a price of NIS 1.345 for every NIS 1 principal amount of series J debentures, with no additional consideration for the options.
The series J debentures reflect a yield of 3.1%, Consumer Price Index-adjusted, and the duration is about six years.
The options are exercisable until June 14 at a price of NIS 1.042 for each NIS 1 par value of series K debentures. Each option is exercisable into 100 series K debentures.
The issuance is an extension of two existing series of debentures. The series J debentures were initially issued under a shelf offering report dated Feb. 19, 2009, and the series K debentures were initially issued under a shelf offering report dated Sept. 4, 2011.
The placement took place on May 2.
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 positive outlook by S&P Maalot.
The securities are subject to approval for trading by the Tel-Aviv Stock Exchange.
Gazit-Globe is a real estate company based in Tel Aviv.
| Issuer: | Gazit-Globe Ltd.
|
| Issue: | Series J debentures with options to purchase series K debentures
|
| Amount: | NIS 130 million
|
| Proceeds: | NIS 174.85 million
|
| Maturity: | Six years
|
| Price: | NIS 1.345 per NIS 1 of series J debentures
|
| Yield: | 3.1%
|
| Warrants: | 2.6 million (to purchase 260 million series K debentures)
|
| Warrant strike price: | NIS 1.042 per NIS 1 of series K debentures
|
| Warrant expiration: | June 14
|
| Pricing date: | May 2
|
| Rating: | Midroog: Aa3
|
| S&P Maalot: Aa3
|
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