FBC represented WCG Properties Ltd, a company incorporated in the British Virgin Islands, which owns 10 hotels in the United States, in an initial public offering of debentures on the Tel Aviv Stock Exchange. The total amount raised by the Company in the issuance, which was accompanied by private placements made immediately upon completion, was NIS 435 million.
WCG is controlled by Windsor Capital Group, based in California. The hotels are in California, Las Vegas, Georgia and North Carolina and are managed under the Hilton and Marriott brands. The proceeds of the issuance were mainly used to refinance existing debt and to finance the company’s operations.
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