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Gazit-Globe Completes a NIS 730 Million (US$ 190 Million) Offering of Unsecured Debentures
TEL-AVIV, Israel, Aug. 25, 2015 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT) (TSX:GZT) (TASE:GZT), one of the world's leading multi-national real estate companies focused on the management, 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 L debentures in Israel. The total gross proceeds from the offering were approximately NIS 730 million (approximately US$ 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%. The debentures bear a coupon rate of 4.0% 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 debentures 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 Underwriting and included Barak Capital Underwriting, Excellence Underwriting, Apex Issuances, Leumi Partners, Poalim IBI, Discount Capital Markets & Investments, Inbar Underwriting and Value Base.
About Gazit-Globe
Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. 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. As of June 30, 2015 Gazit-Globe owns and operates 453 properties in more than 20 countries, with a gross leasable area of approximately 6.3 million square meters and a total value of approximately US$ 20 billion.
FOR ADDITIONAL INFORMATION
Investors Contact: IR@gazitgroup.com , Media Contact: press@gazitgroup.com
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
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