Israel’s Biggest Euro-Bond Attracts More Than Four Times Demand
- Israel taps European market for first time in three years
- Deal comes as yields seen to rise after Trump takes office
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Israel has sold its largest-ever euro-denominated bond in an auction that was more than four times oversubscribed, its first foray into the European debt market in three years.
The government sold 1.5 billion euros ($1.6 billion) in 10-year debt and 750 million euros in 20-year bonds after receiving total demand from investors for 9.8 billion euros, the Finance Ministry said in an e-mailed statement late Wednesday. The 2027 notes were priced at 87 basis points above the benchmark mid-swap rate -- the cheapest financing Israel has achieved since 2005 -- with a coupon of 1.5 percent. The 20-year debt carried a coupon of 2.375 percent, 125 basis points above swaps.