Gazit-Globe Completes a NIS 1.0 billion (US $264 million) Offering of
TEL-AVIV, Israel, Dec. 13, 2012 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB)
(NYSE:GZT), one of the largest owners and operators of supermarket-anchored
shopping centers in the world, 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 1.0 billion (approx. US $264
The debentures were offered at a price of NIS 1.1325 for NIS 1.00 par value
representing an effective yield to maturity of 4.17% with a duration of
approximately 7.8 years.
The debentures carry an annual interest rate of 5.35%, Israeli CPI adjusted
with a final maturity date of September 2024.
The debentures have a domestic credit rating of Aa3 with a stable outlook from
Midroog (Moody's domestic subsidiary) and a domestic credit rating of ilA+
with a stable outlook from S&P Maalot.
The underwriters syndicate was led by Leader Capital Markets and Clal Finance
and included, Barak Capital, Excellence Investments, Poalim IBI, Leumi
Partners, Discount Capital Markets & Investments, Meitav Investment House and
The Company will use the net proceeds from the offering to reduce the
outstanding balance under its revolving credit facilities and for general
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 New
York Stock Exchange (NYSE:GZT). The Company is also 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 Group operates properties with a total value of
approximately $19.8 billion in more than 20 countries, owns and operates over
600 properties with a gross leasable area of approximately 6.6 million square
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
Senior Executive VP and CFO
1 HaShalom Rd.
Tel: +972 3 6948000
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