Kushner Family to sell $100m. bonds in Israel - WSJ
It is not yet clear what role Jared Kushner will take in the company when Trump's term in office ends on January 20, the report noted.
By ZEV STUBPrime Minister Benjamin Netanyahu and US President senior advisor Jared Kushner participate in a special tree planting ceremony in Jerusalem and address the Abraham Accords, December 21, 2020(photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)
The family business of White House Senior Adviser Jared Kushner has filed papers to raise at least $100 million by selling bonds in Israel, The Wall Street Journal has reported.Kushner Companies filed papers earlier this month with the Israel Securities Authority to sell the bonds on the Tel Aviv Stock Exchange, the report said. The sale would likely take place in the first quarter of 2021.Jared Kushner played a leading role in the Trump administration’s Middle East policy, and was instrumental in negotiating Israel’s normalization agreements with the United Arab Emirates, Bahrain, Morocco, and Sudan. His family’s connection to Israel and relationship with Prime Minister Benjamin Netanyahu go back decades.The deal would be Kushner Companies’ first bond issue in Israel, although the firm has received loans in the past from Bank Leumi and Bank Hapoalim, and investments from Psagot and Harel, the Journal noted. The company has also worked very closely with Israel’s Steinmetz family, which made its fortune as one of the world’s leading diamond traders.The company did not say what it would do with the funds, but the Journal speculated that it could be stockpiling cash to take advantage of a wave of cheap real estate opportunities that the pandemic could force in the coming year. Earlier this month, the company put up for sale a Maryland property portfolio that could fetch $800m.Kushner Companies owns dozens of real estate properties in New York and New Jersey, with an estimated value of some $7 billion. The company was founded by Jared’s father, Charles Kushner, who was pardoned by US President Donald Trump earlier this month for crimes of tax evasion and witness tampering, for which he was sentenced in 2004.It is not yet clear what role Jared Kushner will take in the company when Trump’s term in office ends on January 20, the report noted.
