04.05.2012                      12.Ijar. 5772                    Tag 27 des Omer

Wirtschaft:

IDB Development secures NIS 300m in financing from Menora, Bereshit

But IDB group has little to celebrate as shares sink on heavy debt load.

IDB Development has closed a deal for NIS 300 million in debt financing from two lenders, as shares in its parent company, IDB Holdings, sunk to a new annual low amid the group's growing debt load and onerous financing terms.
Half the amount will be provided by the Menora Mivtachim Holdings group and the other half by the Bereshit leverage fund, it was disclosed Tuesday….