(Updates to recast with amended statement from company)
LONDON (Thomson Financial) - RGI International Ltd. said it has raised some
$15 million through a further issue of its unsecured Series A 8.7 percent bonds
in private placement in Israel.
The AIM-listed property developer said the bonds are redeemable in three
equal annual instalments on Nov. 30 2010, 2011 and 2012 and bear a semi annual
coupon.
RGI said the bonds have been issued with a credit rating of 'BBB+' with a
negative outlook from Standard & Poor's Maalot -- the wholly-owned Israeli
subsidiary of S&P.
This rating is identical to the previous rating it received for its
placement of the Series A bonds, with the exception of the outlook, which has
been reduced to negative from stable. This change reflects the impact of the
general crisis in global credit markets on real estate markets around the world,
said RGI in a statement.
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