April 11, 2018 / 1:15 PM / 5 months ago

Israel's Bank Hapoalim to issue 2 bln shekels in bonds

JERUSALEM, April 11 (Reuters) -

* Hapoalim, Israel’s largest bank, said on Wednesday it plans to raise 2 billion shekels ($569 million) in a private bond offering.

* The bank will sell 1 billion shekels of a regular series of inflation linked bonds.

* It will also sell 1 billion shekels of inflation-linked deferred notes known as CoCo bonds.

* The bank said the amounts could be higher or lower depending on demand.

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

* ($1 = 3.5156 shekels) (Reporting by Steven Scheer; Editing by Tova Cohen)

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