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
