Gazit-Globe Announces a Private Placement of Debentures and Options to Purchase Debentures for Immediate Consideration of NIS 225 Million
TEL-AVIV, Israel, Jan. 23, 2012 (GLOBE NEWSWIRE) -- Gazit-Globe (GZT) (TASE:GLOB) (NYSE:GZT), one of the largest owners and operators of supermarket-anchored shopping centers in the world, announces a private placement of Debentures (Series D) together with Options to purchase Debentures (Series K) for immediate consideration of NIS 225 million (approximately $60 million). Assuming the full exercise of the Options, the total consideration will be NIS 450 million (approximately $120 million).
The issuance is an extension of two already existing series of Debentures. The issuance of Debentures (Series D) totals NIS 185 million in par value and includes an additional 1.85 million Options to purchase Debentures (Series K) with no additional consideration.
Each of the Options is exercisable into Debentures (Series K) until February 29, 2012 at an exercise price of NIS 121.8 (CPI adjusted) for each NIS 120 par value of Debentures (Series K).
The gross yield of the Debentures (Series D) reflects yield of 4.8% (CPI indexed). The duration of the Debentures is approximately 6.7 years.
The Debentures have a domestic credit rating of Aa3 with a stable outlook by Midroog (Moody's domestic subsidiary) and a domestic credit rating of ilA+ with a positive outlook by S&P Maalot.
Gazit-Globe is one of the largest owners and operators of supermarket-anchored shopping centers in the world. In addition, the Company is active in North America in the healthcare real estate sector. Gazit-Globe is listed on the Tel Aviv Stock Exchange (TASE:GLOB) and is included in the TA-25 and the Real-Estate 15 indices in Israel. The Company is also listed on the New York Stock Exchange (NYSE:GZT). The Group operates properties with a total value of approximately $18.5 billion in more than 20 countries and owns and operates over 660 properties with a gross leasable area of 7.0 million square meters.
Forward Looking Statements
This release may contain forward-looking statements within the meaning of the U.S. federal securities laws. 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. Except as required by 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.
CONTACT: Media Contact: firstname.lastname@example.org Investors Contact: IR@gazitgroup.com Gazit-Globe Headquarters, 1 HaShalom Rd., Tel-Aviv, Israel Tel: +972 3 6948000Source: Gazit-Globe 2012 GlobeNewswire, Inc.