Business
Re: Bond issue
Re: Bond issue.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n Plaza Centers N.V.\n06 May 2008\n\n\n PLAZA CENTERS N.V.\n ('Plaza' or the 'Company')\n\n\n\n PLAZA CENTERS N.V. ANNOUNCES AGREEMENTS FOR THE PRIVATE ISSUANCE OF ADDITIONAL\nUNSECURED NON-CONVERTIBLE SERIES B NOTES AND A WEIGHTED DISCOUNT RATE FOR SERIES\n B NOTES AS A CONSEQUENCE\n\n\nMay 6, 2008 - Plaza Centers N.V. ('Plaza' or the 'Company'), a leading emerging\nmarkets property developer, announces today that, following the public offering\nin Israel of unsecured non-convertible Series B Notes of Plaza (the 'Series B\nNotes'), pursuant to Plaza's prospectus dated February 3, 2008, it has agreed\nwith Israeli Investors to issue an additional approximately NIS 85 million\n(approximately € 16 million) in principal amount of Series B Notes (the\n'Additional Notes') for an aggregate consideration of approximately NIS 85\nmillion (approximately €16 million). The terms of the Additional Notes are\nidentical to the terms of the Series B Notes issued to the public under Plaza's\nprospectus dated February 3, 2008 (the 'Prospectus'). For information regarding\nthe terms of the Series B Notes, see Plaza's announcement dated February 13,\n2008.\n\n\nIn accordance with an approval received by the Company on April 17, 2008 from\nthe Israeli Tax Authority ('Tax Authority Approval'), at the dates of redemption\nof the Series B Notes, the Company will withhold at source tax payable, at tax\nrates as set forth in the above mentioned prospectus, with regard to the\ndiscount amounts of the Series B Notes pursuant to a calculation of a weighted\ndiscount rate applicable to all Series B Notes in circulation and in accordance\nwith applicable law. The weighted discount rate for the purpose of such\nwithholding tax, following the issuance of the Additional Notes, was determined\nto be 0.15% (based on the Israeli Consumer Price Index for March, 2008 and\naccrued interest on the Notes).\n\n\nThe aforementioned tax arrangement applies for the purpose of withholding tax at\nsource with respect to such discount amounts only and does not exhaust the final\ntax liability of the holders of the Series B Notes.\n\n\nThe discount calculation formula specified in the Tax Authority Approval will\nalso be valid for future increases of the Series B Notes, provided that such\nincreases will be conducted before December 31, 2010. In the event of a future\ninc...