Pacific Oak Strategic Opportunity REIT Inc.
04/25/2024 | Press release | Distributed by Public on 04/25/2024 13:07
Material Event - Form 8-K
ITEM 8.01 OTHER EVENTS
On April 24, 2024, Pacific Oak SOR (BVI) Holdings, Ltd. ("SOR BVI"), a wholly owned subsidiary of Pacific Oak Strategic Opportunity REIT, Inc., completed a public offering to Israeli investors of 288.1 million Israeli new shekels (approximately $76.2 million as of April 24, 2024) Series D bonds (the "Series D Bonds"). The Series D Bonds were issued and registered with the Tel Aviv Stock Exchange on April 25, 2024. The terms of the Series D Bonds are governed by a deed of trust, dated as of April 21, 2024, among SOR BVI and Reznik Paz Nevo Trusts Ltd., as trustee. The Series D Bonds will bear interest at the rate of 9.5% per year, payable semiannually. The first interest payment will be paid on August 30, 2024, and the Series D Bonds have principal installment payments equal to 33.33% of the face amount of the Series D Bonds on February 28th of each year from 2027 to 2029.
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