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Securities and Capital Markets

Our Practice

The Securities and Capital Markets department at Erdinast, Ben Nathan, Toledano & Co. provides comprehensive legal advice to public and private companies in Israel and abroad, as well as to their respective boards of directors, committees and office holders, in every aspect of corporate and securities laws, as well as corporate governance rules.

Our team advises on equity and debt raisings of Israeli and international companies, and on all matters relating to the issuance of various financial instruments (including shares, bonds, warrants, commercial papers, structured products, contingent convertibles (CoCos), securitization and STOs). We also provide ongoing counsel on a wide variety of securities matters such as disclosure and reporting requirements; private placements; related parties transactions; tender offers; M&A transactions, etc.

Additionally, the department advises on various aspects of compliance requirements and enforcement thereof, and provides each client tailor made legal solutions to ensure compliance with applicable Securities laws.

Members of our team have extensive experience in the field and a deep familiarity with the local and international capital markets, as well as representing clients vis-à-vis Israeli regulators (the Israeli Securities Authority, the Commissioner of Capital Markets, Insurance and Savings Division, the Supervisor of Banking, and the Tel-Aviv Stock Exchange).

Our clients include large Israeli public companies (in the fields of banking, energy, oil and gas, real estate, finance, retailing, etc.), foreign listed companies, investment houses, underwriting agencies, credit rating agencies, crowdfunding platforms and various players in capital markets.

The team’s comprehensive knowledge of applicable law together with our deep understanding of the Israeli capital market, enables us to efficiently provide our clients with coordinated and well-rounded legal advice in multiple areas of the law.


Representative Experience

In recent years, we have been engaged in many high-profile and complex issues and transactions which took place in the Israeli capital Market, such as:

  • Equity and debt issuances. In 2017-2018 our office advised on debt issuances to several public companies (including Alon Blue Square, Dor Alon, and Maman) in a total amount exceeding NIS1.5 billion.
  • Going private transactions by way of tender offers and reverse triangular mergers.
  • Senior Officers Remuneration Polices to large public companies.
  • High-profile related parties transactions.
  • Representation of an American stock exchange vis-à-vis the Israel Securities Authority, with regard to the dual listing regime.
  • Representation of Mizrahi Tefahot Bank in its contemplated M&A transaction for the ultimate merger of Union Bank of Israeli, with and into Mizrahi, by way of issuing Mizrahi shares to Union Bank shareholders .
  • Representation of XIO Group in its contemplated NIS1.8 billion acquisition of Meitav Dash Investments which included the issuance of new debentures as one of two alternative methods of the merger consideration.