TEL-AVIV, Israel, May 3, 2012 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB) (NYSE:GZT), one of the largest owners and operators of supermarket-anchored shopping centers in the world, announces a private placement of Debentures (Series J) together with Options to purchase Series K Debentures for immediate consideration of approximately NIS 175 million (approximately $46 million). Assuming the full exercise of the Options, total consideration will be approximately NIS 445 million (approximately $118 million).
The placement consists of an additional issue of Series J debenture in the amount of approximately NIS 130 million par value along with 2.6 million Options to purchase Series K Debentures with no additional consideration. The Options are exercisable into NIS 260 million par value.
Each of the Options is exercisable into Series K Debentures until June 14, 2012 at an exercise price of NIS 104.2 (not CPI adjusted) for each NIS 100 par value of such Debentures.
The gross yield of the Debentures (Series J) reflects a yield of 3.1% (CPI adjusted). The duration of the Debentures is approximately 6 years.
The Company's series J Debentures are secured by assets located in Israel.
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.
Gazit-Globe is one of the largest owners and operators of supermarket-anchored shopping centers in the world. In addition, the Company is active in North America in the healthcare real estate sector. 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 in Israel. The Company is also listed on the New York Stock Exchange (NYSE:GZT). The Group operates properties with a total value of approximately $18.5 billion in more than 20 countries and owns and operates over 600 properties with a gross leasable area of approximately 6.8 million square meters.
Forward Looking Statements
This release may contain forward-looking statements within the meaning of the U.S. federal securities laws. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control, that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC. Except as required by law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.
CONTACT: Media Contact: firstname.lastname@example.org Investors Contact: IR@gazitgroup.com Gazit-Globe Headquarters 1 HaShalom Rd. Tel-Aviv, Israel Tel: +972 3 6948000