In the institutional phase that took place yesterday, there was a lively demand of about NIS 3 billion; Since the beginning of 2021, the Bank has raised close to NIS 5.5 billion in bonds and another $ 600 million in an international issue of deferred bonds of the CoCo type.
Another show of strength for Mizrahi-Tefahot in the capital market: Yesterday, the institutional phase of the bond issue by the Bank took place, through the expansion of two series of bonds.
In total, demand series amounted to NIS 3 billion, of which the Bank decided to meet early liabilities of NIS 1.8 billion, in the following division:
In Series 46 – bonds with a maturity of about 5.6 years, about NIS 1.2 billion will be raised at a spread of 0.78% over a corresponding government bond;
In Series 52 – bonds with a maturity of about 8.5 years, about NIS 600 million will be raised at a spread of 0.82% over a corresponding government bond;
It should be noted that together with the current issue, Mizrahi-Tefahot has raised close to NIS 5.5 billion in the capital market since the beginning of 2021. This is in addition to the amount of $ 600 million that the bank raised in the first quarter of the year, in an international issue of deferred promissory notes of the CoCo type.
The bank’s CEO, Moshe Larry, said that the success of the IPO and the large demand that came from a large number of institutional entities are further proof of the bank’s great confidence in the capital market, which allows it accessible and convenient access to capital resources on attractive terms.
The IPO was carried out through Mizrahi-Tefahot IPO Company Ltd., and was led by Rosario Capital and Epsilon Underwriting and IPOs.