Property & Building gets deal to refinance HSBC Tower JERUSALEM (Reuters) - Israel's Property & Building (PTBL.TA) said on Sunday it had finalized a deal with JP Morgan (JPM.N) to refinance its borrowing on the HSBC Tower in New York in the amount of $400 million over 10 years. The current financing on the Fifth Avenue building is about $240 million. Property & Building, the real estate subsidiary of holding company IDB (IDBH.TA), said the new agreement would generate cash flow of about $150 million. It bought the building two years ago for around $350 million. Last month, the company said it had signed a non-binding term sheet with a foreign bank to refinance its borrowing on the building. Property & Building's shares were up 1.5 percent in late morning trade in Tel Aviv. Its bond prices were up 0.6 to 0.7 percent. Reporting by Steven Scheer