Bonds Payable

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Bonds Payable

Bonds Payable

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. The Bonds are subject to a number of covenants, which include restrictions on the distribution of cash from SPC.

In connection with the Bonds, we incurred a gain on foreign currency transactions of $3,772 and $7,617 for the three months ended March 31, 2022 and 2021, respectively.

The outstanding balance of our Bonds at March 31, 2022 and December 31, 2021 is as follows:

Bond Issuance	March 31, 2022		December 31, 2021		Interest Rate		Maturity
Series A Bonds(1)	$	48,151	$	65,563	7.30	%	7/31/23
Series B Bonds(1)	46,285		54,019		6.80	%	7/31/25
Series C Bonds(2)	73,732		75,298		4.65	%	1/31/23
	168,168		194,880
Less unamortized deferred issuance costs	(4,597)		(5,428)
	$	163,571	$	189,452

(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.