Israel’s Gazit-Globe Considers Raising Funds Abroad

Gazit-Globe Ltd. (GLOB) said it is considering options to raise funds after Calcalist reported the Israeli property investor is seeking to raise $200 million to $300 million in a stock or bond sale in London or in Amsterdam.

“The company considers various options to raise money from time to time, among them, the possibility of an issuance in one of the leading bourses around the world,” Gazit-Globe said in an e-mailed statement. “If a decision is made regarding this issue, the company will make all the proper notifications.”

Gazit-Globe has met investment banks in London in the past weeks and picked Deutsche Bank AG (DBK) and Citigroup Inc. to lead the offering, the Calcalist said, without saying where it obtained the information.

An official at Citigroup declined to comment and Deutsche Bank wasn’t immediately available for comment

Gazit-Globe fell 0.7 percent to 38.45 shekels as of the 4:30 p.m. close in Tel Aviv.

Gazit Inc., Gazit-Globes’ parent company, raised gross proceeds of 196 million shekels ($52 million) from the sale of bonds to the public. The shares lost 0.7 percent to 85.72 shekels.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer1@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler in Dubai at cmaedler@bloomberg.net.

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