Apex Issuances Raises $135 Million at the Tel Aviv Stock Exchange for US Company Chosen Healthcare
Apex Issuances offers unique real estate bond investment program with no collateral, light covenants, and competitive rates.
LOS ANGELES, Sept. 19, 2017 /PRNewswire/ -- Apex Issuances, the premier issuer of American real estate holding companies at the Israeli stock market, the Tel Aviv Stock Exchange (TASE), recently completed a successful bond issuance for Chosen Healthcare, a real estate company. Chosen Healthcare has 22 nursing facilities centers and hospitals in the United States in Indiana, Iowa and Texas. A large proportion of the tenants in these facilities receive United States federal government aid through Medicare and Medicaid. It's the second successful issuance for Apex at the senior citizen sector after issuing Strawberry Fields LLC $100 million last year.
Chosen Healthcare raised $135 million at the Tel Aviv Stock Exchange through Apex Issuances bond issuance program to repay an $86 million U.S. bank loan and to provide an $11 million loan to the owners of the company. The proceeds and the company's regular cash flow will also be used to pay a regular $3 to $4 million in dividends. The controlling shareholders have also given the U.S. bank $18 million in personal guarantee, which the company plans to use proceeds to eliminate this guarantee.
Chosen Healthcare raised straight bonds, which has a BBB rating. The lien on the bonds is a senior lien through a mortgage on income-producing properties with $220 million in value. The bonds have a four-year duration, and the interest rate was set in an auction. The principal of the bonds is to be repaid in three equal payments from 2021 to 2023 with interest paid in 2018 and 2023.
"The success of Chosen Healthcare's bond issuance and the over demand for the issuance proved one more time the growing importance of the Israeli bond market as a viable and exciting alternative financing for American real estate companies," says Noam Niev, Apex Issuances United States director.
Apex Issuances offers United States real estate companies with diversified assets and equity worth $100 million minimum, a unique bond issuance program, which includes $50 to $500 million in capital with no collateral, light covenants, and competitive rates. Started just three years ago, Apex Issuances has been able to raise more than $1 billion for real estate companies throughout North America.
"We have already seen a growing demand from companies that specialize in multifamily, student housing, hotels, office buildings, storage facilities, nursing homes, and more," said Niev. Apex Issuance has completed bond issuances for notable clients like Gary Barnett, who founded Extell Limited and is recognized as one of New York City's most active real estate developers. The Extell bond issuance was for the amount of $450 million.
To learn more about Apex Issuances, read their case studies to better understand their bond issuances program by visiting apexissuances.com.
About Apex Issuances
Apex Issuances specializes in raising capital for companies through public offerings and private placements. The firm's experience in issuing international companies combined with its in-depth familiarity with the Israeli capital market gives Apex a considerable and significant advantage in the Israeli market.
For more information, visit apexissuances.com or call their U.S. office at (818) 822-7400.
SOURCE Apex Issuances
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