Bethel Finance: Tshuva: I did it my way at Delek Real Estate

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Bethel Finance news:
"This is my way; it's how I've worked all my life, and I know of no other," said Delek Real Estate Ltd. (TASE: DLKR) controlling shareholder Yitzhak Tshuva today about the company's partial debt settlement with the bondholders of two of its three bonds.

"I met the company's request to support the proposed debt structure, in the belief and wish to help it move forward," Tshuva added. "A great effort was made here by the bondholders and other parties to put the company on a new road."

Delek Real Estate today initialed an agreement with its holders of its Series 4 and 5 bonds, which account for NIS 1.4 billion of the company's bond debt, 75% of the NIS 2.1 billion total. The company's Series 25 bondholders refused to sign the agreement.

Labor Party chairwoman MK Shelly Yacimovich criticized Tshuva, saying that the settlement would cost savers NIS 1 billion. "Had this been an ordinary person owing NIS 1,000, he would have repaid every last shekel," she said.

Delek Real Estate's share price fell 11.7% today to NIS 0.242, giving a market cap of NIS 90 million.