April 29, 2018 / 9:45 AM / 7 months ago

Israel's Bank Hapoalim raised 3.4 bln shekels in debt offering

JERUSALEM, April 29 (Reuters) -

* Hapoalim, Israel’s largest bank, said on Sunday it issued 3.4 billion shekels ($920 million) in a debt offering to institutional investors that will be traded on the Tel Aviv Stock Exchange.

* The bank raised 1.1 billion shekels from 10-year deferred notes that carry an annual interest rate of 1.42 percent.

* It also raised 2.3 billion shekels from a regular series of 10-year bonds that carry an annual interest rate of 0.6 percent.

* The deferred notes are rated ‘AA’ and regular bonds ‘AAA’ by Standard & Poor’s Maalot. Midroog, the Moody’s affiliate in Israel, rates the deferred notes ‘Aa3’ and regular bonds ‘Aaa’ stable.

* ($1 = 3.5865 shekels) (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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