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  • Gazit-Globe Completes A NIS 375 Million (US $107 Million) Offering Of Unsecured Debentures 0 comments
    Dec 29, 2013 6:08 AM

    http://static.cdn-seekingalpha.com/uploads/2013/12/29/saupload_Gazit_Globe.jpg

    TEL-AVIV, ISRAEL, Dec. 29, 2013 - (CRWE Press Release) - Gazit-Globe (NYSE: GZT) (TSX: GZT) (TASE: GZT), one of the world's leading multi-national real estate companies focused on acquisition, development and redevelopment of supermarket-anchored shopping centers in major urban markets, announced today that it has completed a public offering of its existing Series K debentures in Israel. The total gross proceeds from the offering are approximately NIS 375 million (approx. US $107 million).

    The debentures were offered at a price of NIS 1.217 for NIS 1.00 par value representing an effective yield to maturity of 3.25% with a duration of approximately 7.2 years.

    The debentures carry an annual interest rate of 5.35%, Israeli CPI adjusted with a final maturity date of September 2024, and have a domestic credit rating of ilAA- with a stable outlook from S&P Maalot and a domestic credit rating of Aa3 with a stable outlook from Midroog (Moody's domestic subsidiary).

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

    The underwriters syndicate was led by Leader Capital Markets and Clal Finance and included Barak Capital Underwriting, Excellence Investments, APEX Investment, Leumi Partners, Discount Capital Markets & Investments, Poalim IBI, Inbar Underwriting.

    About Gazit-Globe

    Gazit-Globe is one of the largest owners, developers and operators of supermarket-anchored shopping centers in major urban markets around the world. In addition, the Company is active in North America in the healthcare real estate sector. Gazit-Globe is listed on the New York Stock Exchange (NYSE: GZT), the Toronto Stock Exchange (TSX: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. Gazit-Globe owns and operates 584 properties in more than 20 countries, with a gross leasable area of approximately 6.7 million square meters and a total value of more than US$21 billion.

    FOR ADDITIONAL INFORMATION

    A comprehensive copy of the Company's annual report is available on Gazit-Globe website at www.gazit-globe.com
    Investors Contact: IR@gazitgroup.com, Media Contact: press@gazitgroup.com
    Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000 / New York Office, Tel: +1 212 897 9741

    FORWARD LOOKING STATEMENTS

    This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control, that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.

    For additional information:

    Gil Kotler,
    Senior Executive VP and CFO
    Gazit-Globe Ltd.
    1 HaShalom Rd.
    Tel Aviv, Israel 67892
    +972 3 694 8000

    Source: Gazit-Globe

    http://crwepressrelease.com/5440/news-by-country/israel/gazit-globe-completes-a-nis-375-million-us-107-million-offering-of-unsecured-debentures/

    crwepressrelease.com/5440/news-by-countr.../

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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