Gazit-Globe Extends and Increases its Credit Facility with Citibank by $150 Million to $360 Million
(Thomson Reuters ONE) -
TEL-AVIV, Israel, Oct. 27, 2016 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT)
(TSX:GZT) (TASE:GZT), one of the world's leading multi-national real estate
companies focused on the management, acquisition, development and redevelopment
of supermarket-anchored shopping centers in major urban markets, announced today
that it has increased and extended its credit facility agreement with Citibank
by $150 million to $360 million, maturing in October 2019.
The Company and its wholly owned subsidiaries have entered into the loan
agreement with Citibank for a term of three years. The credit facility bears
interest at the rate of LIBOR plus a fixed margin.
The facility is secured by a pledge over shares held indirectly by the Company
in certain of its consolidated subsidiaries, and is guaranteed by certain of its
wholly owned subsidiaries through whom the pledged shares are held. The loan
agreement includes standard terms for transactions of this type including
limitation on the number of shares which may be pledged, covenants and events
which trigger mandatory repayment or an event of default.
Rachel Lavine, CEO of Gazit-Globe: "We welcome the opportunity to increase and
extend our existing credit facility with Citibank. This allows us greater
flexibility to diversify our sources of credit and funding in the international
markets. We view this agreement as evidence of the Company's leading position in
the international market and a further step towards implementing our strategic
plans."
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of
applicable securities laws. In the United States, these statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve a number of known and unknown risks
and uncertainties, many of which are outside our control, that could cause our
future results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such forward-
looking statements. Important factors that could cause or contribute to such
differences include risks detailed in our public filings with the SEC and the
Canadian Securities Administrators. Except as required by applicable law, we
undertake no obligation to update any forward-looking or other statements
herein, whether as a result of new information, future events or otherwise.
About Gazit-Globe
Gazit-Globe is one of the largest owners, developers and operators of
predominantly supermarket-anchored shopping centers in major urban markets
around the world. Gazit-Globe is listed on the New York Stock Exchange
(NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock Exchange
(TASE:GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. As
of June 30, 2016 Gazit-Globe owns and operates 429 properties in more than 20
countries, with a gross leasable area of approximately 6.5 million square meters
and a total value of approximately US$ 21.5 billion.
FOR ADDITIONAL INFORMATION
Investors Contact: IR(at)gazitgroup.com, Media Contact: press(at)gazitgroup.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gazit-Globe via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.10.2016 - 10:45 Uhr
Sprache: Deutsch
News-ID 503164
Anzahl Zeichen: 4034
contact information:
Town:
TEL AVIV-YAFO
Kategorie:
Business News
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