Eran Azran, themarker.com

The Nathaniel Group real estate company, controlled by the Nathaniel family, has completed the institutional phase of issuing Series 11 (new series). The tender received NIS 180 million in demand, so that Netanel increased its volume of funding, from NIS 50 million to NIS 73 million.

The interest rate at the institutional sales stage was set at 4.68%, relative to the maximum interest rate of 5.7% the company offered. The three institutional bodies that won half of the IPO were the IBA Trusts Willin Lapidot.

The 11th series, which is not rated, is NIS (not linked to the Consumer Price Index), and will be repaid in three unequal principal payments: on the first repayment date in November 2021, 30% of the series will be repaid, on the second payment date in May 2023, 50% of the series will be repaid and the balance will be paid. The last one will take place in November 2023. The series will last for about three years.

Nathaniel Group , Which is valued at approximately NIS 185 million, is engaged in the initiation, planning and construction of residential projects, including urban renewal, commerce and offices in Israel. The company plans, builds and markets approximately 1,150 housing units (not including urban renewal projects) on some 20 projects, of which approximately 320 are under construction, of which 124 housing units have been sold (approximately 39%). In addition, the company owns 17,000 square meters of commercial space.

Orion underwriting and offerings were led by a consortium that included Barak Capital, Rosario Capital, Underwriting Lamp and National Underwriting.