Israel’s Optibase gives more details on upcoming series A bonds

By Marisa Wong

Madison, Wis., May 6 – Optibase Ltd. disclosed more details on its planned public debt offering in a 6-K filed Wednesday with the Securities and Exchange Commission.

The company is planning to offer non-convertible series A bonds to the public in Israel.

The bonds will be repayable in semiannual installments in each of the years of 2016 through 2021, beginning on June 30, 2016.

The bonds will bear interest at a fixed rate, which will be determined by a public tender.

Midroog Ltd. assigned a rating of Baa1 to the bond offering in an aggregate amount of up to NIS 60 million.

The actual size of the offering has yet to be determined.

The proposed bonds were announced in April and are still subject to further approval from the company’s board of directors and the Tel Aviv Stock Exchange.

Based in Herzliya, Israel, Optibase invests in real estate. The company previously operated in the field of digital video technologies.

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