Jeff Sutton to raise $500m bond on TASE

Wharton Property asset in Manhattan

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The draft prospectus published by Wharton Properties (BVI) is for one of the largest bonds ever to be raised in Tel Aviv.

The raising of debt by US real estate companies on the Tel Aviv Stock Exchange (TASE) is moving up a gear, after Jeff Sutton's Wharton Properties (BVI) published a prospectus to raise $500 million (about NIS 2 billion). This would be the largest-ever bond raised on the TASE by a US entrepreneur, and one of the largest ever amounts of money ever raised on the market.

Sutton, who serves as president and chairman of Wharton is one of New York's best known real estate developers. He owns properties in prime locations in Manhattan.

Published by Globes [online], Israel business news - www.globes-online.com - on May 4, 2015