The Harel Group has set up a syndication system

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The Credit Division of the Harel Group’s Investment Division recently established a new department that will deal with the syndication and financing of complex loans. The department Director Liran Sharabi (39), who has worked for about 12 years in the credit division of the investment division in Harel and until recently managed the analysis department in the division. This is the first department established among the institutional bodies, similar to the large banks. A syndication unit allows you to sign transactions in large amounts and share the risk with other lenders.

Harel currently organizes and manages for itself and for partners 4 active loans, in cooperation with banks and institutional entities amounting to approximately NIS 2 billion, while Harel has been leading a number of syndicated credit transactions amounting to approximately NIS 3 billion in recent months, including:

• Organization of the debt to a number of borrowers against Microsoft House in the amount of approximately NIS 830 million, with Harel’s share being 50%. The balance was financed by colleagues.

• Debt organization in the amount of NIS 850 million to finance the purchase of Gav-Yam shares by Aharon Frenkel. The balance will be met by institutional bodies through the syndication department.

• Participation in the organization of a joint debt together with a banking corporation to accompany the former Dolphinarium project in Tel Aviv. Harel’s part in accompanying the project is approximately NIS 900 million (credit and sales law guarantees). The project will include the construction of 2 buildings that will include about 230 residential apartments and a hotel.

• A joint organization with a banking corporation to finance approximately NIS 400 million of an investment program of the Water and Sewage Treatment Institute, the purpose of which is to upgrade the effluent production capacity to a tertiary level and to produce quality effluents for unlimited irrigation.

Itzik Twill, Director of the Credit and Real Estate Division in the Investment Division of the Harel Insurance and Finance Group, Noted that: “The new department will increase Harel’s existing activity in the field of organizing and underwriting loans, in order to deepen Harel’s presence and capabilities in the field of non-negotiable credit combined with additional lenders. In long-term savings products. “

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