XML 28 R20.htm IDEA: XBRL DOCUMENT

Bonds Payable

9 Months Ended

Sep. 30, 2023

We have issued nonconvertible bonds ("Bonds") through SPC, which were traded on the TASE. The Bonds were denominated in New Israeli Shekels ("NIS") and provided semiannual principal and interest payments through maturity. The Bonds were subject to a number of covenants, which included restrictions on the distribution of cash from SPC.

In connection with the Bonds, we incurred a gain on foreign currency transactions of $0 and $1,533 for the three months ended September 30, 2023 and 2022, respectively, and $993 and $19,437 for the nine months ended September 30, 2023 and 2022, respectively.

The outstanding balance of our Bonds at December 31, 2022 was as follows:


Bond Issuance	Amount		Interest Rate		Maturity
Series A Bonds(1)	$	28,971	7.30	%	7/31/23
Series B Bonds(1)	35,806		6.80	%	7/31/25
Series C Bonds(2)	66,546		4.65	%	1/31/23
	131,323
Less unamortized deferred issuance costs	(2,105)
	$	129,218

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

(2) The bonds were collateralized by a trust deed on Browning Place, a 625,297 square foot office building in Dallas, Texas.

On January 31, 2023, we completed our scheduled bond payment, which included the full repayment of the Series C bonds. On May 4, 2023, we paid off the remaining balances of the Series A and Series B Bonds and withdrew from the TASE.