Gazit-Globe Announces Closing of Common Stock Offering Raising $155M

Gazit-Globe

announced today the closing of its public offering of 17.0 million shares in Israel on the Tel Aviv Stock Exchange at a price of NIS 35.5 per share (approximately US$ 9.1 per share). The gross proceeds to the company were approximately NIS 604 million (approximately US$ 155 million). Gazit-Globe's controlling shareholder (50.2%), Norstar Holdings Inc., purchased 8.5 million shares for a total consideration of approximately NIS 300 million (US$ 77 million). The Company intends to use the proceeds from the offering to refinance existing debt and for general corporate purposes. The underwriters syndicate was led by Leader Capital Markets and Clal Finance Underwriting and included Barak Capital Underwriting, Leumi Partners, Poalim IBI, Excellence Underwriting, Inbar Underwriting, Value Base and Epsilon Underwriting. Rachel Lavine, CEO of Gazit-Globe said: "We are pleased with the results of the offering and we thank our investors for their confidence in the company. The offering will allow the company to maintain