Related Quells Jitters After Warning of Isreali Debt Default

March 26, 2020 – Media Mention
Commercial Observer

Discussing the news of a Related Companies subsidiary, Related Commercial Portfolio, to refinance a portion of its debt later this year on the Tel Aviv Stock Exchange and its potential default on an approximate $200 million bond payment, Herrick real estate partner, Yariv Ben-Ari, was quoted in the Commercial Observer stating “[i]t’s customary to retire a series of bonds by issuing a subsequent series of bonds,...[Related’s] plan was to issue a series B, enough to repay series A and potentially yield more money.”

And looking at things positively, Yariv added that the "situation with Related is unique,...Related is a well known, blue-chip type company with a significant balance sheet and deep pockets."