For the first time: Government bonds issued abroad will also be able to be listed for trading on the Tel Aviv Stock Exchange at the same time
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Trading in the global bond series is expected to begin this coming Sunday.
The Israeli government raises debt in foreign currency, among other things through the issuance of bonds abroad. Today, 23 series of government bonds issued outside Israel are traded abroad: 13 series in dollars, seven series in euros, two series in Japanese and one series in pounds.
The dollar-denominated bonds are held and settled in the DTCC (US clearing house), while the bonds denominated in euros are held and cleared in the European clearing house - Euroclear.
In the first phase, three government series will be registered in dollars and three government series in euros, totaling about NIS 40 billion.
The trading in the global bonds will be done in shekels, while the expected payments to the bondholders (the yield) will be made in the currencies in which they are denominated.
According to Yahli Rotenberg, Accountant General of the Ministry of Finance, "The registration of global government bonds, and the development of a new investment channel on the stock exchange, are further evidence of the Accountant General's commitment to perfecting and promoting the Israeli capital market." The government debt of the State of Israel. "
Itai Ben Zeev, CEO of the Stock Exchange, added: "We are pleased that the Israeli government has chosen to list its global series of bonds on the Tel Aviv Stock Exchange, similar to all government bonds already traded in Israel.
The move will expand the supply of products traded on the stock exchange, increase liquidity in government bonds and, for the first time, allow Israeli and international investors access to these global products in continuous and transparent trading on the Tel Aviv Stock Exchange. "
