Berko & Associates Closes Israeli Bond Raise – $115,000,000

Berko & Associate along with a prominent Israeli Underwriter, completed a $115m bond raise at a fixed interest rate of 5.7% on the Tel Aviv Stock Exchange for a Boston-based retail developer. Israeli institutional demand for the offering was overwhelming, more than doubling the initial targeted raise of $80m with more than $180m. This demand for investment-grade issuances has been commonplace for Institutional and retail investors in Israel as many recent issuances have been met with high level of demand. The issuer’s portfolio was comprised of 49 assets across 12 states primarily located in tertiary markets.