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Simad Holdings May Sell Summer Camps Above Book Value, Boosting Institutional Bondholders’ Prospects

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דווח לראשונה בCalcalist · Aug 5, 2026

מה קרה

Simad Holdings, after collapsing amid financial misconduct allegations, may sell its U.S. summer camps above book value, improving prospects for Israeli institutional bondholders to recover their investments. The auction process yielded proceeds exceeding the camps’ book value, potentially enabling full repayment of the 620 million shekel bond issuance. Final distributions depend on U.S. bankruptcy court rulings and transaction costs.

01Simad’s auction of 22 U.S. summer camps fetched $368 million, above their $345 million book value.
02Camps securing Series A bonds valued at $312.3 million, exceeding book value of $275.1 million.
03Including private sales, total proceeds for secured creditors reach about $336.3 million, a 13% premium.
04Simad’s 620 million shekel bonds may be fully repaid despite the company’s May collapse.
05Bond trading halted after collapse; market value dropped 441 million shekels from issuance.
06U.S. Chapter 11 bankruptcy court will decide final creditor payments after costs.

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