Awakening demand in the issuance of Mizrahi-Tefahot bonds: the bank will increase the amount raised to NIS 2.4 billion
Success in the issuance of Mizrahi-Tefahot bonds: Yesterday (Wednesday) the institutional phase of the issue ended, in which the Bank intended to raise an amount of NIS 1 billion. Against the background of demand of NIS 3.2 billion, the Bank decided to increase the amount raised and set it at About NIS 2.4 billion.
In the issue, the Bank’s debentures were offered in two new series: shekel and indexed, with a maturity of approximately 5 years.
Demand for the shekel bond series (63) amounted to NIS 1.7 billion.
In this series, the Bank will raise approximately NIS 1.2 billion, at an interest rate of 2.74%, approximately 0.91% over government bonds for a similar period.
The index-linked series of bonds (64) received demand in the amount of approximately NIS 1.5 billion
In this series, the Bank will raise approximately NIS 1.2 billion at a negative yield of approximately 0.41%, approximately 0.91% above index-linked government bonds for a similar period.
The bank’s CEO, Moshe Larry, said that the high demand that came from a variety of institutional bodies indicates the great trust that Mizrahi-Tefahot enjoys in the capital market, and the bank’s great access to sources of financing, available and relatively cheap, for its diverse needs.
The IPO was led by Rosario Capital and Epsilon Underwriting and IPOs, and was carried out through Mizrahi Tefahot IPO Company Ltd.