Credit: BIG CEE Group
Development | Ticker

BIG Shopping Center raised 55 million euros at the Israeli stock exchange for further expansion in Serbia and the Balkans

The BIG Group intends to use the proceeds from this bond issue to continue its expansion in Serbia and in the Balkan region.

BIG Shopping Centers Ltd., the controlling shareholder (~95%) of BIG CEE, successfully raised NIS 205 million (approx. EUR 55 million) by issuing secured bonds at the Israeli stock exchange by refinancing the following shopping centers: BIG Fashion Kragujevac, BIG Kruševac and BIG Fashion Outlet Inđija.

The bonds have a weighted average maturity of 6.6 years (October 2029), they are not linked to any index and bear an effective annual interest rate of 1.495%, with a loan value of 70%.

The bonds were sold mainly to leading institutional Israeli funds after the demand for bonds in the bidding process amounted to over NIS 1 billion (approx. EUR 267 million); the demand exceeded the amount BIG ultimately decided to raise by almost 5 times.

Credit: BIG CEE Group

The BIG Group intends to use the proceeds from this bond issue to continue its expansion in Serbia and in the Balkan region.

“We are very proud of the confidence the Israeli market has demonstrated in our outstanding Serbian assets as evidenced by the excellent financing obtained by the Group,“ said Alon Bargiora, CFO, BIG CEE Serbia.

BIG CEE Group is among the leading investors in the retail real estate sector. Its portfolio comprises nine shopping centers in Serbia and four additional residential, office and logistics projects.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Titanium acquires Ozols shopping center in Riga

The asset was exited by KS Holding to Titanium Baltic Real Estate. The former shopping center Galerija Azur was acquired by the seller in 2016 and redeveloped over three years, then opened under the new name Ozols.

Coniq develops new loyalty programs for Reem Mall in Abu Dhabi

Coniq announced their partnership with Reem Mall (Abu Dhabi) to develop innovative engagement and loyalty programs for unique customer journeys backed by the latest data science, especially for the GCC market.

FCR buys 26, 000 sq m shopping center in Eisenach

FCR Immobilien AG has acquired a shopping center in Eisenach, Thuringia, with a sales area of approximately 26,000 sq m as part of the continuous expansion of its portfolio.

Debenhams.com opens first UK store in Manchester Arndale

Manchester Arndale announced that fashion retailer Boohoo has opened its first Debenhams.com beauty store at the center.

Trafford Center launches Tinsel Town outdoor experience for festive period

Manchester’s Trafford Centre created a festive outdoor experience with Tinsel Town, following the recent Summer Social and Spookfest events.

400th Primark store opens in Italy

Primark opened its 400th international store in Sicily (Italy) today, which now totals eight fashion outlets in their Italian portfolio.