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Gazit-Globe raises NIS 860M in offering
Israel's largest real estate investment company says will use proceeds from public bond offering to reduce outstanding balance under its revolving credit facilities, for general corporate purposes
Gazit-Globe, Israel's
largest real estate investment company, raised 860 million shekels ($237 million) in a public offering of bonds.
Major Investment
Liroy Peri, Calcalist
Company's subsidiary Citycon, Canada Pension Plan Investment Board jointly enter into agreement to acquire Stockholm shopping center for approximately $690 million
The debentures carry an annual interest rate of 5.35% with a final maturity date of 2024, the company said on Sunday.
They are rated "AA-" with a stable outlook by Standard & Poor's Maalot and "Aa3" with a stable outlook by Midroog, the Israeli subsidiary of Moody's Investors Service.
The company said it would use the proceeds from the offering to reduce the outstanding balance under its revolving credit facilities and for general corporate purposes.
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.
