Gazit-Globe raises NIS 1B in bond offering - Israel Business, Ynetnews

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Reducing Credit

Gazit-Globe property in US (archives)
Gazit-Globe property in US (archives) 

Gazit-Globe raises NIS 1B in bond offering

Israel's largest real estate investment company says 7.8-year inflation-linked bonds will pay annual interest of 5.35%

Published: 12.16.12, 07:15 / Israel Business

Gazit-Globe, Israel's largest real estate investment company, said it raised NIS 1 billion ($264 million) in a public bond offering largely aimed at reducing its revolving credit.


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Gazit-Globe said on Friday the 7.8-year inflation-linked bonds, a widening of one of its existing series, would pay annual interest of 5.35%.


The bonds are rated Aa3 with a stable outlook by Midroog, the Israeli affiliate of Moody's Investors Service, and A+ by S&P Maalot, the local unit of Standard & Poor's.


Gazit-Globe operates in the United States through Equity One and in Canada through First Capital Reality Inc.


It is also the largest shareholder in Finland's Citycon and together with Citigroup controls shopping mall developer Atrium European Real Estate.



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