Real Estate Giant Gazit-Globe Raises $107 million


Chaim Katzman and Dori Segal. Executive Vice Chairman ,    Gazit-Globe

                     Dori Segal                           Chaim Katzman

Gazit-Globe (NYSE; TSX; TASE: GZT), multi-national real estate companies,   announced today that it has completed a public offering of its existing Series 11 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.

Gazit-Globe is large owners, developers and operators of supermarket-anchored shopping centers in major urban markets around the world, controlled by the Israelis Chaim Katzman and Dori Segal.

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.


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