Plaza Centers, a developer focused on Central and Eastern Europe, is filing a draft prospectus with the Israeli Securities Authority and Tel Aviv Stock Exchange (TASE) in connection with a potential public offering of unsecured non-convertible Series B Notes and a listing on TASE.
Plaza Centers, a developer focused on Central and Eastern Europe, is filing a draft prospectus with the Israeli Securities Authority and Tel Aviv Stock Exchange (TASE) in connection with a potential public offering of unsecured non-convertible Series B Notes and a listing on TASE.
The prospectus will also be used to list about EUR 53.3 mln of unsecured non-convertible Series A Notes that were issued to investors in Israel in a private transaction in July 2007. The Series A Notes bear an annual interest rate of 5%, which will be reduced to 4.5% once they are listed for trade.
Plaza stressed the offering of Series B Notes and the listing of the Series A and B Notes was subject to the final approval of the board, the publishing of a final prospectus and approval by the ISA. Should the offer of Series B Notes proceed, it would only be open to people in Israel.
Ran Shtarkman, president and CEO of Plaza Centers, said: 'The contemplated issuance of these Series B Notes is being made in order to finance our development plans. This flexible approach to financing provides us with the firepower to drive our ongoing development programme, ensuring that the company can act swiftly upon investment opportunities in the company's target market.'
Plaza Centers is registered in the Netherlands and listed in London and Warsaw. It is a member of the Europe Israel Group of companies which is controlled by Mordechay Zisser.