Friendly Financing: From The U.S. To Israel

In July, Bezeq, the Israeli state-owned telecommunications company, asked for proposals from U.S. investment banks to float a $200 million bond issue. To the surprise of Israeli financiers, six major U.S. investment banks rushed to respond. The firms saw the Bezeq deal as a way of positioning themselves for "much bigger business in the months to come," says Dan Halperin, who advises Salomon Brothers Inc. in Israel.

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