The Management Of Silverstein Properties Opened Trading On TASE To Mark The Listing Of The Company’s Bonds On TASE
This morning (July 5, 2018), the management of Silverstein Properties opened the trading to mark the listing of the company’s bonds on the Tel-Aviv Stock Exchange.
Silverstein Properties is part of the Silverstein Group, a real estate company based in New York that was founded in 1957 by Larry Silverstein’s father, Harry Silverstein. The group manages more than 40 million square feet of real estate.
Silverstein Properties is an American company that has joined the 32 other foreign companies that have issued bonds on TASE.
The Bond market in Israel is unique – a liquid market with 630 series of corporate bonds. The Israeli corporate bond market is the second largest in the world in terms of trading volume on the exchange itself (not OTC), and foreign companies have come to realize its huge potential. These companies have raised 9.7 billion shekels in 2017, and 4.9 billion shekels from the beginning of 2018 until June.
Tal Kerret, President of Silverstein: “The Silverstein Group is delighted to join the Tel-Aviv Stock Exchange. We see this process as a natural continuation of our involvement in recent years in the Israeli capital market, and we hope that this listing will be another successful step in expanding our activities in Israel.”
Drorit Vilnai, Head of TASE’s Listings Unit: “The Israeli capital market is familiar with the Silverstein Group. Large Israeli investment institutions have collaborated with Silverstein in the past, in the acquisition of real estate in New York and Washington. The interest rate of 3.4% for Silverstein is the lowest rate for a US real estate company on TASE.
In July 2017, TASE launched a new index, the Tel-Bond Global index, which consists of shekel bonds of foreign companies traded on TASE. The index currently consists of 34 bond series with a total market cap of 19.3 billion shekels. The company's bonds are expected to join the Tel-Bond Indices on November 15.”
Pictured from right to left:
Drorit Vilnai, Head of TASE’s Listings Unit; Amnon Neubach, Chairman of TASE’s Board of Directors; Tal Kerret, President of Silverstein; Lisa Silverstein, Director of Silverstein; Lior Mor, Vice President of Silverstein; Shay Ben Yakar, CEO of Leader Capital Markets
Drorit Vilnai, Head of TASE’s Listings Unit; Amnon Neubach, Chairman of TASE’s Board of Directors; Tal Kerret, President of Silverstein; Lisa Silverstein, Director of Silverstein; Lior Mor, Vice President of Silverstein; Shay Ben Yakar, CEO of Leader Capital Markets
Photo credit: Guy Assiag, for no financial consideration.
