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Mizrahi-Tefahot Bank to raise over 2.7 bln shekels in bond sale
March 29, 2017 / 11:54 AM / 8 months ago

Mizrahi-Tefahot Bank to raise over 2.7 bln shekels in bond sale

JERUSALEM, March 29 (Reuters) -

* Mizrahi-Tefahot Bank said on Wednesday it expects to raise more than 2.7 billion shekels ($746 million) in a bond offering to institutions and the public.

* The bank, Israel’s third-largest by assets, said demand for the expansion of two bond series from institutional investors reached 4.8 billion shekels. The public stage will take place in the coming days.

* One series is for 7.2 year bonds that pay 2.73 percent, or 0.84 point above comparable government bonds.

* Another series is for 4.8 year bonds that will pay 1.95 percent, or 0.71 point above comparable government bonds.

* The bonds are rated “AAA” with a stable outlook from Standard & Poor’s Maalot.

* ($1 = 3.6213 shekels) (Reporting by Steven Scheer)

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