Extell Limited
Founded in 1989 by Gary Barnett and Recognized as one of New York City's most active real estate developers Focus on residential, office, retail, hospitality and mixed-use properties
- New York Observer’s “Most Powerful” real estate person in New York City in 2013
- Portfolio exceeds 20 million square feet and over 4 million square feet currently in development,
One 57 will be completed this year, potentially yielding over $435M in pre-tax cash flow - Rating - A2/stable by Moody's (Midroog)
Balance Sheet Highlights (YE 2013):
| Equity | $654MM |
| Net debt to capital ratio | Approx. 49% |
| net profit | $230MM |
May 2014, The Extell Development company has completed raising $300MM in bonds
on the Tel-Aviv Stock exchange
| Securities | Extell Limited new Bond Serie |
| Amount of issuanc | ILS1,050MM ($300MM) |
| Total Demand at the Tender Offerin | ILS1,700MM ($485MM) |
| Yield | 4.65% (equivalent to 4.55% in $ terms |
| Coupon Payments | Twice a year as of December 2014 and until 2019 |
| Principal Payments | 2 equal payments in December 2018 and December 2019 |
| Duration | 4.6 Years |
| Rating | A2 / Stable (Midroog) |
| Security | None |
| Covenants | Light & uninterrupting |
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