Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Delek Real Estate Bonds, Shares Soar on Restructure Proposal

Nov. 20 (Bloomberg) -- Delek Real Estate Ltd. bonds and shares surged after billionaire Isaac Tshuva’s property company announced a debt reorganization proposal that includes issuing new securities to existing bondholders.

The price on the company’s 4.8 percent bond due February 2019 surged 11 percent to 35.43 agorot on the shekel at the 4:30 p.m. close in Tel Aviv. The rate climbed from this year’s low of 26.03 agorot on Sept. 12. The stock jumped 22 percent, the biggest gain since Aug. 14, to 0.23 shekel.

The proposal also counts on Tshuva for further investments in the real-estate company. Delek Real Estate Chief Executive Officer Eran Meytal told the Calcalist that a quick approval of the plan was critical for the company.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.