Lightstone Enterprise completed an offering of a new series of bonds, secured by the Moxy Times Square hotel in Manhattan, in the amount of approximately NIS 1 billion, which will bear annual interest rate of 5.53%. The tender for classified investors recorded impressive demands of approximately NIS 2.7 billion.
Hagag Group completed the issuance of a new series of Bonds in the amount of NIS 404 million!
This new series of Bonds will carry an annual interest rate of 4.5% with an average duration of 3.9 years.
As part of the issuance, option warrants were also granted for the purchase of Company’s shares at a valuation of NIS 2 billion, which, if exercised, could raise an additional NIS 200 million.
ISPRO Ltd., controlled by businessmen Kidan Dahari and Yaron Adib, on the acquisition of 100% of the shares of the well-established real estate company, Tnuport (1990) Ltd., at a value of 500 million NIS! Following the acquisition, ISPRO has become a company with a consolidated asset base of approximately 3.1 billion NIS! The acquisition was partially financed through the issuance of a series of bonds secured by Tnuport shares, amounting to NIS 165 million.
Carasso Real Estate LTD completed the raising of bonds (series B), in the amount of 400 million NIS, bearing an annual interest rate of 5.74%, with demands in the tender for classified investors exceeding NIS 1 billion.
Copperline America Limited completed an expansion of the company’s Series D bonds in the amount of approximately NIS 147 million. During the institutional tender for the aforementioned bond series expansion, the Company recorded an oversubscription of over 200%. The bonds were issued at a premium, reflecting an effective interest rate of approximately 6.7%.
Lightstone, owned by businessman David Lichtenstein, involved in real estate development across the United States, completed the expansion of a debenture’s series totaling approximately USD 305 million in December 2023.
Spencer, owned by entrepreneur Joel Gluck, engaged in real estate development in New York City, completed an expansion of a debenture’s series totaling approximately NIS 100 million in December 2023.
Extell, owned by entrepreneur Gary Barnett, one of the most active entrepreneurial companies in New York, completed the expansion of a debenture’s series on the Tel Aviv Stock Exchange in December 2023, through a private placement totaling approximately NIS 168 million.
Israel-Canada Company raised 170 million shekels through a private stock offering to several institutional bodies, including Phoenix, Mor, Mizrahi Tefahot, Clal, Menora, and the Noked and Sphera Hedge Funds
Our firm accompanied Carasso Real Estate Ltd. in an expansion of its Series A Bonds for a total amount of approx. NIS 146 million.
Proud to be ranked as one of Israel’s leading firms (tier1) in the Capital Markets practice areas by the Israeli ranking guide Duns’100.
Our firm is proud to have advised Tnuport (1990) Ltd. in issuing 640 million NIS in a new series of bonds, backed by Tnuport’s real-estate assets and 50% of Zemach-Tnuport shares. Among others, this fundraising will be used for full early redemption of the Series A bonds, for an estimated amount of 386 million NIS.
Our firm accompanied Carasso Real Estate Ltd. On it’s NIS 250 million bonds issuance, rated ‘il.A-‘.
Our new offices are ‘front-and-center’, featured in an online article, which showcases the special design process of the architect Raz Melamed.
Our firm represented Sapir Corp Lrd, controlled by businessman Alex Sapir, in issuing 290 million NIS in a new series of bonds traded on the TASE, by way of uneven offer, secured by a first mortgage on ‘Nomo Soho’ Hotel in New York. Among others, this fundraising was used for the refinance of the senior debt on the hotel.
Our firm accompanied Carraso Ltd. in its first public offering of shares at a pre-money valuation of 1.8 billion NIS, raising 332 million NIS. A total of 164 million NIS worth of Carraso Real Estate shares were sold in the offering.
Our firm has been ranked “Top Tier” by the prestigious BdiCode ranking guide for 2022 in the Capital Markets practice field.
Proud to be ranked as one of Israel’s leading firms (tier1) in the Capital Markets practice areas by the Israeli ranking guide Duns’100.
Our firm represented MRR Thirteen Limited, controlled by industrialist Anand Mahindra and New York real estate owner and developer Rotem Rosen in issuing 360 million NIS in a new series of bonds traded on the TASE, by way of uneven offer, secured by a first mortgage on Hotel Indigo Lower East Side New York and on the membership interest of MRR in an LLC which acquired a land parcel in Miami. Among others, this fundraising was used for full early redemption of the Series A bonds and the acquisition of the Miami land parcel.
Our firm represented A.R. REM Projects controlled by the Nakash brothers, Raz Oded and Avi Hormaro in a transaction in which Leumi Partners acquired 7.5% of the holdings in ICR Israel Canada REM Holdings Ltd. for NIS 60 million, at a value of NIS 850 million.
Our firm and its founder, Adv. Israel Shimonov, have been ranked “Top Tier” by the Chambers and Partners legal ranking guide for 2021 in the Capital Markets practice field. In addition, our firm’s Senior Partner, Adv. Amir Bar Tov has once again been ranked as a Top Tier lawyer in the field of Insolvency by the Chambers and Partners legal ranking guide for 2021.
Our firm represented Solear on its prospectus for its initial public offering and offering of its shares on the Tel Aviv Stock Exchange Ltd., amounting to NIS 132 million, at a company value of approximately NIS 600 million.
Our firm accompanied Gabay Properties and Development Ltd in its issuance of a new series of bonds, guaranteed by pledges over 2 entrepreneurial projects in Tel Aviv and Ashkelon, in which NIS 80 million was raised at an interest rate of 4.59%.
The IFLR1000 ranking guide has ranked Adv. Israel Shimonov – the firm’s founder, and Adv. Dudi Berland – a senior partner at the firm, as highly regarded lawyers, as well as Adv. Ido Lachman who has been noted as a rising star, in the capital markets area.
We are proud to announce that as previous years, the Israeli ranking guide BDI has ranked our firm as a leader in the Debt Settlement and Liquidations & Receiverships fields in this year’s ranking.
As in previous years, our firm has been ranked by the international ranking guide, The Legal 500, among the top Israeli law firms in the Capital Market practice area – with Adv. Israel Shimonov ranked as one of the foremost experts in the field. The guide also acknowledged our firm as a leader in the Insolvency practice area which is lead by Adv. Amir Bartov.
Our firm represented Namco Realty, which holds commercial shopping centers across the USA, in a NIS 400 million (400,000,000 NIS) bond raise on the TASE.
Our firm represented Elad Canada (owned by Mr. Yitzhak Tshuva) in a NIS 500 million (500,000,000 NIS) bond raise on the TASE.
In 2019, the firm accompanied in a groundbreaking and first-of-its-kind IPO Prospectus, when for the first time ever, a U.S. REIT with an UPREIT structure was introduced on the TASE to offer shares to the Israeli public, for which reason the REIT underwent the full listing process in Israel and not a dual listing.
Our firm represented the huge real-estate developer Westdale Properties, from Dallas, Texas, in a NIS 500 million bond raise (IPO) on the TASE, conducted by way of book building.
As in previous years, our firm has been ranked by the international ranking guide, The Legal 500, among the top Israeli law firms in the capital market and insolvency practice areas, with Adv. Israel Shimonov ranked as one of the foremost experts in capital markets.
Among other things, our firm has been described as “a real force in the capital markets space.“
We are very pleased and glad to announce that Adv. Benjamin Ben Zimra was promoted to be a Partner in our firm from January 1st 2019.
Adv. Benjamin Ben Zimra is an associate in our firm since 2014 and is specialized in foreign companies’ representation specially from the US and is a co-head of the US companies department in our firm alongside with Adv. Dudi Berland, Partner.
Our firm represented MRR Thirteen Limited, controlled by industrialist Anand Mahindra, New York real estate owner and developer Rotem Rosen and Jerry Rotonda in the acquisition of Hotel Indigo Lower East Side New York. The transaction was financed by means of USD 100 million in equity provided by the controlling shareholders, as well as USD 73 million in debt financing at the TASE in bonds backed by a primary lien on the hotel.
Our firm represented Yitzhak Tshuva’s real estate giants Elad Canada Realty Inc. in a NIS 204 million bond offering at the TASE.
Our firm represented the Saidoff group in one of the largest and most prominent transactions in recent years, involving the acquisition of control in real estate and infrastructure giant Shikun & Binui from the Arison group.
