TEL AVIV, Israel, Sept. 6, 2011 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB), one of the world's leading multinational real estate companies engaged in the acquisition, development and management of supermarket-anchored shopping centers, announced today that it has completed an offering of a new series of unsecured CPI adjusted debentures, series 11, for a total gross proceeded of approximately NIS 450 million (approx. US $125 million).
The debentures bear an annual interest rate of 5.35%, CPI adjusted, with a duration of approximately 8.5 years and a final maturity date of September 2024.
The debentures have a domestic credit rating of Aa3 with a stable outlook by Midroog (Moody's domestic subsidiary) and a domestic credit rating of ilA+ with a positive outlook by S&P Maalot.
The underwriters syndicate was led by Clal Finance and included Leader Capital Markets, APEX Investment, Poalim IBI, Leumi Partners, Discount Capital Markets & Investments, Excellence Investments, Meitav Investment House and Barak Capital.
The Company will use the net proceeds from the offering to reduce the outstanding balance under its revolving credit facilities and for general corporate purposes.
About Gazit-Globe
Gazit-Globe is one of the world's leading multinational real estate companies engaged in the acquisition, development and management of income-producing properties. The company focuses on necessity-driven real estate, primarily supermarket-anchored shopping centers in urban growth markets with high barriers to entry and attractive demographics. In addition, the company is active in the healthcare real estate sector, owning and operating medical office buildings and senior housing communities in North America. Gazit-Globe is listed on the Tel Aviv Stock Exchange (TASE:GLOB) and is included in the TA-25 and the Real-Estate 15 indices. The Group operates in more than 20 countries, owns and manages over 660 properties with a gross leasable area of approximately 7.0 million square meters and has a consolidated total asset value of approximately US$19 billion and a gross annualized income of approximately US$1.75 billion. www.gazit-globe.com
For more Information
Roni Soffer, President, roni@gazitgroup.com
Gadi Cunia, Senior Executive VP & Chief Financial Officer, gcunia@gazitgroup.com
Avishag Kichel, International Investor Relations, akichel@gazitgroup.com