BIG Shopping Centers Successfully Secures Around EUR 55 Million by Issuing Secured Bonds in Israeli Stock Exchange

BIG Shopping Centers Ltd., the controlling shareholder (~95%) of BIG CEE, successfully secured NIS 205 million (approx. EUR 55 million) by issuing secured bonds in the Israeli stock exchange by refinance of the following shopping centers: BIG Fashion Kragujevac, BIG Kruševac and BIG Fashion Outlet Inđija.

The bonds duration is 6.6 years (maturity October 2029), they are not linked to any index and bear an effective annual interest rate of 1.495%, with 70% loan to value.

The Bonds were issued mainly to leading institutional Israeli funds after having demands in the bidding process for bonds in the amount of above NIS 1 billion (approx. EUR 267 million); namely, BIG had demands of almost 5 times the amount it eventually decided to raise.

BIG group intends to use the proceeds from such issuance of bonds in order to push further its expansion in Serbia and in the Balkan region.

– We are very proud of the confidence the Israeli market put on our excellent Serbian assets as evidenced by the great financing that the Group obtained – said Alon Bargiora, CFO at BIG CEE Serbia.

BIG CEE Group is among leading investors in retail real estate, having portfolio of nine shopping centers in Serbia and four additional projects in categories of residential, offices and logistics.

Cee Group d.o.o. Beograd

CEE-BIG Management doo Beograd

BIG Shopping Centers Ltd

Alon Bargiora

BIG CEE

BIG Fashion Kragujevac

BIG Kruševac

BIG Fashion Outlet Inđija

issue of secured bonds