Gazit-Globe Completes NIS730 Mln Offering Of Unsecured Debentures

(RTTNews) - Gazit-Globe (GZT), a multi-national real estate company, said it has completed a public offering of its existing Series L debentures in Israel. The total gross proceeds from the offering were NIS 730 million or $190 million.

The debentures were offered at a price of NIS 1.013 for NIS 1.00 par value, representing an annual yield to maturity of 3.93 percent. They bear a coupon rate of 4 percent per annum, Israeli-CPI adjusted.

Repayment of the principal will begin in June 2023 with a final maturity date in June 2027, resulting in an average maturity of 10.4 years.

The company intends to use the proceeds from the offering to refinance existing debt and for general corporate purposes.