By Susanna Moon
Chicago, Jan. 28 – Gazit-Globe Ltd. said it closed its NIS 800 million offering of 4% unsecured debentures.
The debentures were offered at NIS 1.063 for each NIS 1.00 par value, representing a yield to maturity of 3.34%, according to a company press release.
The coupon is Israeli-CPI adjusted.
Repayment of the principal will begin in June 2023 with a final maturity of June 2027, resulting in an average maturity of 11 years, the company noted.
Proceeds will be used to refinance debt and for general corporate purposes.
The underwriting syndicate was led by Leader Capital and Clal Finance Markets.
Gazit-Globe is based in Tel Aviv. It owns and operates supermarket-anchored shopping centers.
| Issuer: | Gazit-Globe Ltd.
|
| Issue: | Unsecured debentures
|
| Proceeds: | NIS 800 million
|
| Maturity: | June 2027
|
| Coupon: | 4%
|
| Price: | 106.3
|
| Yield: | 3.34%
|
| Underwriters: | Leader Capital and Clal Finance Markets (lead underwriters); Excellence Investments, Barak Capital Underwriting, Meitav Underwriting, Discount Capital Markets & Investments, Poalim IBI, Leumi Partners and Inbar Underwriting
|
| Settlement date: | Jan. 28
|
| Ratings: | Midroog: Aa3
|
| S&P Maalot: ilAA-
|
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