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Greystone Closes Inaugural Bond Offering on Tel Aviv Stock Exchange

BY GlobeNewswire | CORPORATE | 12/03/24 02:38 PM EST

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced that Greystone Senior Debt BI, LTD., a subsidiary of the Greystone Senior Debt Fund, has completed a Series A bond offering of approximately $160 million on the Tel Aviv Stock Exchange.

Greystone Senior Debt BI, LTD., a publicly reporting company in Israel, issued 583,724,000 of NIS denominated unsecured bonds, which were rated Aa3.IL by Midroog, Moody?s affiliate in Israel. The bonds carry a 6.35% fixed coupon for a 5-year term with the first 4 years being interest-only. The firm was targeting a $100 million offering and increased it to approximately $160 million as a result of being 3x oversubscribed at attractive yields.

Greystone intends to utilize the proceeds from this initial offering to invest in new bridge loans within its Senior Debt Fund, which is a proprietary lending platform serving as a pathway to long-term US government-backed debt such as Fannie Mae, Freddie Mac and HUD-insured financing.

?With our inaugural offering to the Israeli market being oversubscribed, I am thrilled with the vote of confidence from investors,? said Steve Rosenberg, founder and CEO of Greystone. ?Greystone strives to exceed the expectations of its stakeholders by pursuing ideas and initiatives that create space for excellence and expansion. This offering will enable us to continue to grow and help our clients grow with us.?

Leader Capital Markets acted as a book runner and lead underwriter for the bond offering. Infin Capital acted as a co-distributer. Goldfarb Gross Seligman & Co. served as the company?s counsel in Israel for the offering.

About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com

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Source: Greystone

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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