13th Feb 2008 08:00
Plaza Centers N.V.13 February 2008 PLAZA CENTERS N.V. ("Plaza" or the "Company") PLAZA CENTERS N.V. ANNOUNCES THE RESULTS OF A PUBLIC OFFERING OF NOTES IN ISRAEL February 13, 2008 - Plaza Centers N.V. ("Plaza" or the "Company"), a leadingemerging markets property developer, announces that yesterday it completed asuccessful public offering in Israel of Series B Notes of Plaza pursuant toPlaza's prospectus dated February 3, 2008 and the complementary notice datedFebruary 11, 2008 which constitute part of the prospectus (collectively, the"Prospectus"). In the Prospectus, Plaza offered to the public Series B Notes ("Series B Units")(each Series B Unit consists of NIS 1,000 par value Series B Notes). Theoffering was conducted in a tender. Series B Units were offered by a tender onthe annual interest rate borne by Series B Notes which could not have exceeded5.4%. In the context of the offering of Series B Notes, Plaza has received 626 ordersfor the purchase of 713,538 Series B Units out of which 79,538 Series B Unitswere received from the public and 634,000 Series B Units were received fromclassified investors. The annual interest rate was set to 5.4% (the "DeterminedInterest Rate"). Accordingly, Plaza will issue 713,538 Series B Note Units asfollows: (i) 97 orders received from classified investors for thepurchase of 634,000 Series B Units were accepted in full. (ii) 529 orders received from the public for the purchase of79,538 Series B Units in which the proposed interest rate was equal or below theDetermined Interest Rate were accepted in full. The interest rate to be borne by the Series B Notes with respect to the periodcommencing on February 13, 2008 (the expected date of clearance) and ending onJune 30, 2008 (inclusive) will be 2.056%. The immediate gross proceeds to Plaza from the offering of Series B Note Unitstotaled approximately NIS 713.5 million (approximately €137 million). The issue of the Series B Units is expected to be completed today. The Series BNotes, as discussed above, are expected to be listed for trade on the Tel AvivStock Exchange (the "TASE") on February 14, 2008. The offering of the Series B Notes was made to persons in Israel only. In addition, Plaza announces that the Listing of the Series A Notes of Plaza onthe TASE, pursuant to Plaza's prospectus dated February 3, 2008, was completedon February 11, 2008. Commenting on the successful public offering, Ran Shtarkman, President and CEOof Plaza Centers N.V., said: "Plaza has once again shown its ability to raise finance through the issuance ofhighly rated bonds with favorable interest rates. We are very pleased to haveyet again secured the support of Bond investors and the funds we have raisedwill provide us with substantial additional financial flexibility and firepowerto continue the development of high quality shopping and entertainment centresthroughout the emerging markets in which we operate." About Plaza Centers N.V. Plaza Centers N.V. (www.plazacenters.com) is a leading emerging marketsdeveloper of shopping and entertainment centres. It focuses on constructing newcentres and, where there is significant redevelopment potential, redevelopingexisting centres in both capital cities and important regional centres. TheCompany is dual listed on the Main Board of the London Stock Exchange and, as of19 October 2007, the Warsaw Stock Exchange (LSE:"PLAZ", WSE: "PLZ/PLAZACNTR").Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EIL"), anIsraeli public company whose shares are traded on both the Tel Aviv StockExchange in Israel and the NASDAQ Global Market in the United States. Plaza Centers is a member of the Europe Israel Group of companies which iscontrolled by its founder, Mr Mordechay Zisser. It has been active in realestate development in emerging markets for over 12 years. For further details, please contact: Plaza CentersMordechay Zisser, Chairman +972 3 608 6000Ran Shtarkman, President and CEO +36 1 462 7221Roy Linden, CFO +36 1 462 7105 Financial Dynamics +44 20 7831 3113Stephanie Highett / Laurence Jones This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Plaza