June 19, 2018 / 10:07 AM / 10 months ago

Israel's Bank Leumi to offer nearly $400 mln in bonds

TEL AVIV, June 19 (Reuters) - Bank Leumi, Israeli’s second largest bank, said on Tuesday it would offer to the public a news series of bonds worth 1.45 billion shekels ($398 million).

This follows a tender to institutional investors in which demand reached 2.6 billion shekels. The bank said it decided to accept precommitments of nearly 1.29 billion shekels from institutional investors.

The rest will be raised from the general public.

The annual interest rate for the inflation-linked bonds was set at 0.83 percent in the tender.

Standard & Poor’s Maalot rated the bonds “AAA” with a stable outlook for an offering up to 1.45 billion shekels. Midroog, the Israeli affiliate of Moody’s Investors Service, rates the bonds “Aaa” with a stable outlook. ($1 = 3.6426 shekels) (Reporting by Tova Cohen Editing by Steven Scheer)

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