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.
Azrieli Group is an Israeli real estate and holding company named after its founder David Azrieli. The Azrieli family holds 55% of the Group, and the Azrieli Foundations (Canada and Israel) hold 20% of the Group.
Azrieli Group is comprised of Israel’s leading shopping malls and offices; Granite HaCarmel (100%) with subsidiaries in the energy, water and environment industries (Sonol, Supergas and GES); 20% of credit card company Leumi Card; and 4.8% holdings in Bank Leumi Le-Israel Ltd.
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.