December 2, 2018 / 12:16 PM / 17 days ago

Israel's Bank Hapoalim raises 2.1 bln shekels in bond offering

JERUSALEM, Dec 2 (Reuters) - Bank Hapoalim, Israel’s largest lender, said on Wednesday it raised 2.1 billion shekels ($565 million) in a bond offering to institutional investors and the public.

The bank said the 6-year bonds will be used for general liquidity purposes. It raised some 2 billion shekels from institutions and another 60 million shekels from the public, it said.

Midroog, the Israeli affiliate of Moody’s Investors Service, rated the offering of up to 2.5 billion shekels ‘Aaa’, while Standard & Poor’s Maalot rated the offering ‘AAA’.

The inflation-linked bonds will pay annual interest of 1.75 percent, 0.89 percent above comparable Israeli government bonds.

$1 = 3.7147 shekels Reporting by Steven Scheer, Editing by Ari Rabinovitch

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