Delek Real Estate Bonds, Shares Soar on Proposal

(Corrects date of price in second paragraph.)

Delek Real Estate Ltd. (DLKR) bonds and shares surged after billionaire Isaac Tshuva’s property company announced a debt reorganization proposal.

The price on the company’s 4.8 percent bond due February 2019 surged 16 percent to 36.90 agorot on the shekel at 1:38 p.m. in Tel Aviv. The rate climbed from this year’s low of 26.03 agorot on Sept. 12. The stock jumped 25 percent, poised for the biggest gain since Aug. 14, to 0.236 shekel.

To contact the reporters on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net; Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Jonathan Ferziger at jferziger@bloomberg.net

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