By Toni Weeks
San Luis Obispo, Calif., April 28 - Gazit-Globe Ltd. completed a public offering of its existing series L debentures in Israel to raise about NIS 450 million.
The debentures priced at 108.7 for NIS 1.00 par value, representing an effective yield to maturity of 3.32%.
The underwriting syndicate was led by Clal Finance and Leader Capital Markets.
The debentures are due June 2027 and carry a coupon of 4%, Israeli CPI-adjusted.
The securities have a domestic credit rating of Aa3 from Midroog, a Moody's subsidiary, and a domestic credit rating of ilAA- from S&P Maalot.
Proceeds will be used to refinance debt and for general corporate purposes.
Gazit-Globe is based in Tel Aviv. It owns and operates supermarket-anchored shopping centers.
| Issuer: | Gazit-Globe Ltd.
|
| Issue: | Series L debentures
|
| Proceeds: | NIS 450 million (approximate)
|
| Maturity: | June 2027
|
| Coupon: | 4%, CPI-adjusted
|
| Price: | 108.7
|
| Yield: | 3.32%
|
| Underwriters: | Clal Finance and Leader Capital Markets (leads); Barak Capital Underwriting, Excellence Investments, APEX Investment, Poalim IBI, Discount Capital Markets & Investments, Leumi Partners and Inbar Underwriting
|
| Settlement date: | April 28
|
| Ratings: | Midroog: Aa3
|
| S&P Maalot: ilAA-
|
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