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Record demand for Mizrahi-Tefahot bonds will raise about NIS 3.6 billion - Walla! Money

2021-10-19T09:58:11.655Z


A record demand of close to NIS 5 billion from the institutions for the issuance of the bank's bonds caused Mizrahi-Tefahot to almost double the amount that will be raised in practice.


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Record demand for Mizrahi-Tefahot bonds will raise about NIS 3.6 billion

Wanted to raise NIS 2 billion, will raise NIS 3.6 billion: Record demands of close to NIS 5 billion from the institution's bond issuers caused Mizrahi-Tefahot to almost double the amount actually raised. This is a series of bonds to be repaid within 7 years

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Tuesday, 19 October 2021, 12:36 Updated: 12:53

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Impressive success for the issuance of Mizrahi-Tefahot bonds: At the end of the institutional phase of the issue, in which the bank intended to raise NIS 2 billion. Against a record demand of close to NIS 5 billion and attractive market conditions, the bank decided to increase NIS 3.6 billion In the



issue, the Bank offered new series of bonds - Series 62. These are bonds linked to the consumer price index, for a repayment period of 7 years.



The noteworthy interest that characterized the institutional phase came from a long line of factors in the capital market.

In light of unprecedented demand and the relatively low price environment - a spread of about 0.7% over parallel government bonds, the bank decided to increase the amount raised from NIS 2 billion to NIS 3.6 billion.

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Moshe Larry, CEO of Mizrahi-Tefahot (Photo: Mizrahi Tefahot Spokeswoman)

"Evidence of the high trust the bank enjoys"

Bank President Moshe Larry

said, "The peak demand and the impressive success of the IPO, indicate great confidence enjoyed by Mizrahi-Tefahot in the capital market, and access to many of the Bank's funding sources, available and relatively inexpensive, needs diverse."



It should be noted, first quarter This year the Bank carried out an additional issue - issue internationally, his first, during which raised $ 600 million in bonds sort Coco ((CoCo, of institutional investors from the US, Europe and Asia.



the present issue led to Rosario Capital and Epsilon underwriting and issues, and is performed using Mizrahi Tefahot company For IPOs Ltd.

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Source: walla

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