Shaya Boymelgreen today extended another loan to Boymelgreen Capital Ltd. (TASE:BMGN), through which he conducts his real estate business in Israel. The current loan, the fourth in recent months, is for NIS 12.5 million.
The current loan, like its predecessors, bears 7% annual interest, and will be repaid in a single payment in three months.
Boymelgreen Capital said that the loan was needed for business activity to meet short-term cash needs. The terms of the loan enable the company to obtain credit from other sources.
Shaya Boymelgreen owns 89.8% of Boymelgreen Capital, which owns the 64% controlling interest in Azorim Investment, Development and Construction Ltd. (TASE: AZRM), 50% of the old Assuta compound in Tel Aviv, and Azorim Tourism Ltd. (25% directly and 75% through Azorim).
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2009
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