From the July issue: The $361 million the Moinian Group raised through a bond offering on the Tel Aviv Stock Exchange in May was the greatest confirmation of a growing trend in New York real estate financing. New York-based developers are increasingly looking to Israel’s debt market for funding.
Tapping the small-but-sophisticated corporate bond market — which was valued at $80 billion last year— is not an entirely new idea. It started nearly a decade ago as a novel approach for raising cash, but it has gained serious momentum in the last two years. [more]