November 17, 2017 / 11:04 AM / a year ago

Israel sends request for proposal for international bond - sources

LONDON, Nov 17 (IFR) - The State of Israel has sent a request for proposal to banks, according to sources.

They add that Israel (A1/A+/A+) is likely to issue a US dollar bond in the first quarter.

Israel sold a €2.25bn dual-tranche in January this year, becoming the first CEEMEA sovereign outside the EU to issue 20-year notes in the single currency.

The sovereign last issued in the greenback in March 2016 when it raised US$1.5bn through a dual-tranche offering comprising a new US$1bn 2.875% March 2026 bond and a US$500m reopening of its 4.5% January 2043 notes. The January 2043s were subsequently tapped again for a further US$200m.

The March 2026s are bid at 100.108 according to Tradeweb, to yield 2.86%. The January 2043s are trading at 107.026 to yield 4.05% on the bid side. (Reporting by Robert Hogg, Editing by Sudip Roy)

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