Azrieli Group Ltd. (TASE: AZRG) has completed the institutional stage in its first bond offering, raising NIS 615 million. The company will seek to raise a further NIS 700 million from the public tomorrow (Monday). It is issuing an index-linked 10-year bond carrying an annual interest rate of 0.65%. RELATED ARTICLES Azrieli Group mulls up to NIS 1b debt issue Demand in the institutional stage amounted to NIS 3.1 billion. The offering was led by Clal Finance Underwriting and Leader Underwriters, with Leumi Partners, Barak Capital Underwriting and Rosario Underwriting. The firm of Gross Kleinhandler Hodek Halevy Greenberg & Co. represented Azrieli in the offering. Azrieli Group CEO Yuval Bronstein said, "This is the first offering by the company since its IPO on the Tel Aviv Stock Exchange five years ago. The successful completion of the institutional stage represents a vote of confidence in the company by the capital market, and will facilitate a further reduction in our financing costs. We intend to continue to maintain a stable capital structure as the group's income producing real estate business expands." Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
