Israeli Capital Markets

Our firm's domestic securities practice has consistently been the top ranked practice by Israel's leading business publication in their annual survey, based both on number and magnitude of offerings.
Our clients include most of Israel’s leading commercial banks, as well as leading real property developers and a wide variety of industrial companies. Our expertise includes debt, equity, and hybrid securities, issued both in public markets and in institutional private placements.
We have pioneered the use of structured products in the Israeli public market, and we continue to represent the leading issuers of these products.

Representative experience:

• Representation of Bank Mizrahi in an issuance of NIS 1 billion of hybrid capital instruments in December 2006.
• Representation of Israel Discount Bank in an issuance of NIS 1 billion of hybrid capital instruments in May 2007.
• Representation of Bank Hapoalim in an issuance of NIS 600 million of subordinated debt in August 2008.
• Representation of Plastro Irrigation Systems in $100 million going private acquisition by John Deere in March 2008.
• Representation of Queenco in private placement of $250 million of securities to finance merger transaction, and issuance on London Stock Exchange Main List in July 2008.
• Representation of Excellence Investments in NIS 500 million securitization for institutional investors of an innovative swap transaction based on cash flow from bonds issued by Israel Electric Corporation in December 2006.
• Representation of Excellence Investments in an issuance of NIS 2 billion of innovative financial instruments, EFTs and derivative instruments, 2006-2008.
• Representation of Global Finance in a complex financing transaction that included simultaneous acquisition of unlisted notes from institutional investors, restructuring bonds based on the resulting cash flow in two tranches, both public and private, followed by a public offering of the senior tranche pursuant to a NIS 1.2 billion prospectus in December 2007.
• Representation of Israel Discount Bank in public offerings in December 2006 and May 2007 of NIS 1 billion of Tier-1 hybrid capital, including interaction with the Bank of Israel on regulatory issues and listing procedures.
• Representation of Mizrahi-Tefahot Bank in November 2006 in an NIS 459 million private issuance of hybrid securities followed by preparation of a prospectus to list the securities.
• Representation of one of Israel’s leading investment houses in an NIS 2 billion issuance of an innovative financial instrument consisting of convertible deposit certificates converting to interest-bearing US dollar denominated debt.
• Representation of Nissan Medical Industries in an NIS 142 million private offering of bonds and convertible instruments.
• Representation of Mizrahi-Tefahot Bank in an NIS 450 million public offering of subordinated debt pursuant to a shelf prospectus, May 2007.
• Representation of Israel Discount Bank in an NIS 350 million public offering of subordinated debt pursuant to a shelf prospectus, May 2007.
• Representation of a number of companies from the Excellence Group in NIS 1 billion of public offerings of structured financial instruments pursuant to shelf prospectuses, 2006-2007.
• Representation of Gazit-Globe and Gazit Inc. in numerous public and private offerings raising over NIS 7.3 billion.
• Representation of Makhteshim Agan Industries in an institutional offering of NIS 2.35 billion of debentures.
• Representation of Harel Insurance Group in a public offering of NIS 650 million of debentures.
• Representation of Industrial Buildings Corporation in a public offering raising NIS 600 million.
• Representation of Jerusalem Economic Ltd. in a public offering raising NIS 125 million.
• Representation of Isras Investment Company in numerous public and private offerings.
• Representation of U. Dori Engineering Works, a leading Israeli real property developer, in a NIS 145 million public offering.