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Israeli Entrepreneur Exits Tel Aviv Bond Market After 8 Months
Israeli entrepreneur Amir Shriki is exiting the Tel Aviv bond market after eight months due to a dispute with bondholders over alleged violations and a broader loss of confidence in U.S. companies. His company, Aya New York, will redeem its 292 million shekel bond issuance at par value, having secured alternative financing in the U.S.
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What happened
- 01Amir Shriki's Aya New York will redeem 292 million shekels in bonds after an 8-month market presence.
- 02A dispute arose over alleged pledging of collateralized properties to other entities.
- 03Bondholders representing 45% of the debt appointed attorneys to represent their claims.
- 04Shriki cited a loss of market confidence in U.S. companies and perceived discrimination.
- 05The company secured $100 million in U.S. financing at a lower interest rate.
- 06Shriki aims to exit the market with his reputation intact via full repayment.
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The coverage
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