Yuli Capital Markets Raises NIS 131 Million From Institutionals

Company controlled by Henry Kauftheil had only thought to raise NIS 80 million, but demand prevailed

Yuli Capital Markets  (TASE: YULI), which despite its name is a real estate firm, has wrapped up the institutional phase of its bond offering.

The company issued both convertible bonds and straight bonds, raising NIS 131 million, well beyond its original target of NIS 80 million.

Yuli Capital Markets achieved an interest rate of 6.5%.

Among the institutional investors buying its bonds were Ilanot Batucha, Psagot Ofek, Excellence-Nessuah, Migdal, Prisma (Markstone), and IBI.

A few months ago Tao Tsuot (TASE: TAO) , belonging to Ilan Ben Dov, bought a partner's interest in Yuli. Also, in April Yuli sold about 10% of its stock to provident and mutual funds belonging to Excellence-Nessuah, Gaon, and Phoenix. It received about NIS 8.2 million, surmise market sources.

Yuli's market cap on the Tel Aviv Stock Exchange is NIS 94 million. The company is controlled by Henry Kauftheil, an American real estate magnate who built it on the Tel Aviv-listed shell company Tree Top.