The realization race of the real estate company, controlled by Gershon Zelkind, ended this morning at the offices of the financing banks - The company received a deferral of four months to repay the debt of NIS 110 million - The company’s share jumped by 5%
By Eran Azran - 20.11.2013
This past September, Electra Real Estate found itself in a serious financial situation. The company, indirectly controlled by Gershon Zelkind, was required to repay debts of NIS 320 million to bondholders and the banks by 2014, while it had only NIS 150 million in its coffers. The challenging situation aroused the suspicions of bondholders; and the yield on the company’s linked bonds jumped by up to 11%.