Middle East

The increasing appeal of the Tel Aviv Stock Exchange

It is already a firm favourite with US investors, now UK and European investors are catching on to the appeal of TASE

It may be an odd quirk of the global capital markets, but Israel has become a major centre for US investors and developers to raise cheap finance. As a result, with the substantial savings they are making, UK and European borrowers are also now eyeing the opportunities presented by the Tel Aviv Stock Exchange.

Bank of Israel research shows $8.3bn of real estate backed bonds were raised in Tel Aviv between 2014 and 2016 and in the first quarter of 2017 a further $500m.

Instead of taking out mezzanine financing that sits at a loan-to-value position of 65%-70% with a…

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