December 14, 2012 / 12:27 PM / 5 years ago

Israel's Gazit-Globe raises 1 bln shekels in bond offering

JERUSALEM, Dec 14 (Reuters) - Gazit-Globe, Israel’s largest real estate investment company, said it raised 1 billion shekels ($264 million) in a public bond offering largely aimed at reducing its revolving credit.

Gazit-Globe said on Friday the 7.8 year inflation-linked bonds, a widening of one of its existing series, would pay annual interest of 5.35 percent.

The bonds are rated Aa3 with a stable outlook by Midroog, the Israeli affiliate of Moody’s Investors Service, and A+ by S&P Maalot, the local unit of Standard & Poor‘s.

Gazit-Globe operates in the United States through Equity One and in Canada through First Capital Reality Inc . It is also the largest shareholder in Finland’s Citycon and together with Citigroup controls shopping mall developer Atrium European Real Estate.

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