Fox-Wizel raises $153M in Series B bond offering on TASE

What's the deal? Fox-Wizel Ltd., one of Israel's largest fashion and retail groups, completed a public offering of its Series B bonds on the Tel Aviv Stock Exchange (TASE), raising approximately NIS 555M (around $153M).

The offering drew strong institutional demand, with orders exceeding NIS 2.3B — more than four times the amount raised. The issued bonds are unsecured and double-rated, carrying an annual interest rate of 4.39%.

Herzog advised Fox-Wizel on the transaction, with a team led by partners Nir Dash and Yotam Kleiman.

The signal: The heavy oversubscription suggests robust investor confidence in Israel's retail sector and in Fox-Wizel's creditworthiness. Tapping the public bond market at a sub-5% rate for unsecured debt is a sign of strength for a consumer-facing company in a volatile macroeconomic environment.

Read more: israeldesks.com