By Aaron Hochman-Zimmerman
New York, Dec. 7 - Mirland Development Corp. plc priced NIS 245 million seven-year bonds in two tranches, according to a press release.
The NIS 39 million series A bonds carry a coupon of 6.5% linked to the Israeli consumer price index.
The NIS 204 million series B bonds carry spread of Libor plus 275 basis points linked to the NIS-dollar exchange rate.
Credit Suisse acted as the bookrunner for the deal.
The Cyprus-based real estate developer primarily functions in Russia, but also has subsidiaries in Israel and Hungary.
| Issuer: | Mirland Development Corp. plc
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| Amount: | NIS 245 million
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| Maturity: | 2015
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| Bookrunner: | Credit Suisse
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| Pricing date: | Dec. 7
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|
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| Issue: | Series A bonds
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| Coupon: | 6.5%
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| Issue: | Series B bonds
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| Spread: | Libor plus 275 bps
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