Delek Real Estate Ltd., the Israeli property company that bought 12 Frankfurt-area supermarkets last month, plans to raise 800 million shekels ($210 million) in a bond sale to refinance existing debt and fund new investments.
The securities have been rated A+/stable, Ma'alot-The Israel Securities Rating Co. said in an e-mailed report on Jan. 4. About 340 million shekels will be used to repay loans and 460 million shekels to fund acquisitions, Ma'alot said.Delek plans to acquire income-producing real estate leased to quality tenants, rather than develop its own.
