Real estate developer Azrieli Group (TASE: AZRG) raised 615 million shekels ($158 million) in a bond offering to institutional investors, according to Reuters.
The 5.5 year bonds will pay interest of 0.65 percent, the company said, noting that demand from Israel’s largest institutions reached 3.1 billion shekels.
Azrieli plans to raise an additional 700 million shekels through a public bond offering on Monday.
Ms. Danna Azrieli is the Group chairman. Mr. Menachem Einan has served the Group for over 20 years is active deputy to the group’s chairman. The Group’s CEO is Mr. Yuval Bronstein.
The Group held an IPO in June 2010, raising approx. NIS 2.5 billion making it the largest-ever IPO on the Tel Aviv Stock Exchange. The Group is included in the Tel Aviv 25 index, which covers the twenty five largest companies on the Israel Stock Exchange, and is the only Israeli Company included in the EPRA indices.