TEL AVIV May 18 (Reuters) – Israeli real estate developer
Africa Israel Investments said on Wednesday it is
seeking a debt settlement with bondholders for the second time
since 2010.
Africa-Israel has 3.1 billion shekels ($809.3 million) in
Israeli bonds to be repaid.
The company’s Russia-focused subsidiary AFI Development
has been hurt by the weak Russian economy, which
Africa-Israel said in a statement was due to the Russia-Ukraine
conflict that resulted in international sanctions, combined with
the fall in oil prices and a sharp devaluation of the rouble.
The worsening situation has prompted Russian bank VTB to
call for early repay…
Read the full article at: http://af.reuters.com/article/southAfricaNews/idAFL5N18F0YT