01.02.2012                      08.Schwat. 5772

Schuldenschnitt:

Public losing up to NIS 1 billion on Delek Real Estate debt agreement

Under new deal, the bondholders are accepting a haircut of 25% to 50%, meaning they stand to lose as much as half the NIS 1.6 billion they lent the company.

Delek Real Estate's bondholders stand to lose as much as NIS 1 billion under a debt agreement hashed out with the company's leadership yesterday. The deal comes after a night-long meeting and five months of negotiations.
While a binding agreement remains pending, a head of agreement was signed yesterday afternoon at the company's offices in Ramat Gan. Under that deal, the bondholders are accepting a haircut of 25% to 50%. This means they stand to lose as much as half the NIS 1.6 billion they lent the company….