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Transcontinental Realty unit raises 138M shekels on Israeli bond market

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Transcontinental Realty unit raises 138M shekels on Israeli bond market

Transcontinental Realty Investors Inc. subsidiary Southern Properties Capital raised an additional 137.7 million shekels in a series B bond offering on the Tel Aviv Stock Exchange.

In July 2017, Dallas-based Transcontinental Realty raised 400 million shekels from a series A bond offering on the Israeli market.

A portion of the series A and series B funds were used to pay off a Medley Capital mezzanine loan, the company said in a release, adding that it had already used funds to buy multifamily assets.

Israel-based financial consultancy firm Radhan led the offering.

As of March 23, US$1 was equivalent to 3.49 shekels.