News & Media

Back to News

Moinian raises $167M in Tel Aviv bonds at 3% rate

01.18.2018

The Moinian Group raised $167 million in a bond offer on the Tel Aviv Stock Exchange, according to documents filed with the exchange. The five-year bond carries a 3.05 percent coupon, which is the lowest rate a U.S. issuer has received in Israel to date.

Moinian, led by Joseph Moinian, had upped the offer from $154 million to $175 million, and was oversubscribed to the tune of $475 million in demand at the institutional tender.

This is Moinian’s second bond offer since his entrance into the market in 2015, when he raised $361 million at a 4.45 percent interest rate.

In the last year, Moinian has increased focus on its lending operation, and recently announced over $200 million worth of deals across several projects in New York and South Florida, including a $96 million loan to Delshah Capital which has not yet closed.

Read Full Article

Share