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CAP - Gazit-Globe Completes a NIS 450 Million (US$ 130 Million) Offering of Unsecured Debentures

Company: Norstar Israel Ltd. Date: 2014-04-28 Language: English Register to download

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 News Details

Corporate | 28 April 2014 09:21

#   

Gazit-Globe Completes a NIS 450 Million (US$ 130 Million) Offering of Unsecured Debentures

DGAP-News: Gazit-Globe /

28.04.2014 / 09:21

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TEL-AVIV, Israel, 2014-04-28 09:21 CEST (GLOBE NEWSWIRE) --
Gazit-Globe (NYSE:GZT) (TSX:GZT) (TASE:GZT), one of the world's leading
multi-national real estate companies focused on the 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 450 million (approximately US$ 130 million). 

The debentures were offered at a price of NIS 108.7 for NIS 1.00 par value,
representing an effective yield to maturity of 3.32% with a duration of
approximately 9.4 years. 

The debentures carry an annual interest rate of 4.0%, Israeli-CPI adjusted with
a final maturity date of June 2027, 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 Clal Finance and Leader Capital Markets
and included Barak Capital Underwriting, Excellence Investments, APEX
Investment, Poalim IBI, Discount Capital Markets & Investments, Leumi Partners
and, Inbar Underwriting. 

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. Gazit-Globe owns and operates 577 properties in more than 20 countries,
with a gross leasable area of approximately 6.6 million square meters and a
total value of more than US$ 22 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,
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. 


         CONTACT: For additional information:
         Gil Kotler,
         Senior Executive VP and CFO
         
         Gazit-Globe Ltd.
         1 HaShalom Rd.
         Tel Aviv, Israel 67892
         +972 3 694 8000
News Source: NASDAQ OMX


End of Corporate News

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28.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:    English       
Company:     Gazit-Globe   
 
 
             Israel        
ISIN:        PAL0605071A3  
 
 
End of News    DGAP News-Service  
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264928 28.04.2014

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