By Paul A. Harris
Portland, Ore., Jan. 9 – State of Israel launched and priced €2.5 billion of senior notes (expected ratings A1/AA-/A+) in two evenly split tranches on Wednesday, according to a market source.
A €1.25 billion tranche of 1½% 10-year notes priced at a 75 basis points spread to mid-swaps.
A €1.25 billion tranche of 2½% 30-year notes priced at a 115 bps spread to mid-swaps.
Barclays, BNP Paribas and Goldman Sachs International were the joint bookrunners. Goldman Sachs will bill and deliver.
Proceeds will be used for general budgetary purposes.
| Issuer: | State of Israel
|
| Amount: | €2.5 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays, BNP Paribas, Goldman Sachs International (bill and deliver)
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Expected ratings: | Moody's: A1
|
| S&P: AA-
|
| Fitch: A+
|
| Distribution: | Regulation S
|
| Marketing: | Roadshow
|
|
|
| 10-year notes
|
| Amount: | €1.25 billion
|
| Maturity: | Jan. 16, 2029
|
| Coupon: | 1½%
|
| Price: | 99.32
|
| Yield: | 1.574%
|
| Spread: | Mid-swaps plus 75 bps
|
|
|
| 30-year notes
|
| Amount: | €1.25 billion
|
| Maturity: | Jan. 16, 2049
|
| Coupon: | 2½%
|
| Price: | 98.816
|
| Yield: | 2.557%
|
| Spread: | Mid-swaps plus 115 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
