BIG Shopping Centers Successfully Secures Around EUR 55 Million by Issuing Secured Bonds in Israeli Stock Exchange
The bonds duration is 6.6 years (maturity October 2029), they are not linked to any index and bear an effective annual interest rate of 1.495%, with 70% loan to value.
The Bonds were issued mainly to leading institutional Israeli funds after having demands in the bidding process for bonds in the amount of above NIS 1 billion (approx. EUR 267 million); namely, BIG had demands of almost 5 times the amount it eventually decided to raise.
BIG group intends to use the proceeds from such issuance of bonds in order to push further its expansion in Serbia and in the Balkan region.
BIG CEE Group is among leading investors in retail real estate, having portfolio of nine shopping centers in Serbia and four additional projects in categories of residential, offices and logistics.
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