Fattal Europe, which is owned by the Fattal hotel company controlled by David Fattal, which owns 55 hotels, raised NIS 212 million as part of the institutional phase of the Series D (new series) bond issue. The company said most of the hotels were back in full operation. Investors seem to believe in her because she managed to raise the amount in the middle of the global corona crisis and even got an over-demand that allowed her to lower interest rates.
The company won a large demand in the amount of NIS 437 million, due to excess demand, the bonds were set an annual shekel interest rate of 5.1%, lower than the maximum interest rate offered in the tender, which was 6%. Following the move, Fattal shares rose by 7%. The share has fallen by about 45% since the beginning of the year, and the group’s value amounts to NIS 2.9 billion. The company offered investors bonds (Series D) secured by a first lien on 7 properties, with the total value of the collateral amounting to approximately EUR 104 million.
The institutional phase is a phase that was previously closed only to institutional institutions, such as investment houses and insurance companies, but is now open to the general public. During this stage, institutional entities are exposed to the offer of the raising company, Fattal Properties in this case, and can purchase securities and enjoy an early commitment fee, ie a discounted price for the offered securities. Managing public funds, such as pension funds and mutual funds.
Meanwhile, in the summary of daily trading on the stock exchange, the largest jump was recorded today by Fattal Holdings, with a jump of 9.89% in the stock, which closed at a price of 19,560 agorot. The significant increase can be explained by the fact that you are a member of the successful transaction.
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