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Bonds Payable

3 Months Ended

Mar. 31, 2021

We have issued three series of nonconvertible bonds ("Bonds') through SPC, which are traded on the TASE. The Bonds are denominated in New Israeli Shekels ("NIS") and provide for semiannual principal and interest payments through maturity.

In connection with the Bonds, we incurred a (loss) gain on foreign currency transactions of $7,617 and $7,843 for the three months ended March 31, 2021 and 2020, respectively.

The outstanding balance of our Bonds at March 31, 2021 and December 31, 2020 is as follows:


Bond Issuance	March 31, 2021		December 31, 2020		Interest Rate		Maturity
Series A Bonds(1)	$	76,448	$	95,133	7.30	%	7/31/23
Series B Bonds(2)	56,688		65,318		6.80	%	7/31/25
Series C Bonds(1)	82,484		85,537		4.65	%	1/31/23
	215,620		245,988
Less unamortized deferred issuance costs	(7,599)		(8,100)
	$	208,021	$	237,888

(1) The bonds are collateralized by the assets of SPC.

(2) The bonds are collateralized by a trust deed in Browning Place, a 625,297 square foot office building in Farmers Branch, Texas.