By William Gullotti and Cristal Cody
Buffalo, N.Y., Jan. 20 – Israel Discount Bank Ltd. sold $800 million of 5 3/8% five-year notes (A2//A) on Thursday at a spread of 190 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 220 bps area, although guidance was later tightened to Treasuries plus 200 bps.
Citigroup, Barclays and Jefferies are bookrunners for the Rule 144A and Regulation S deal.
As previously reported, the notes were marketed via investor calls on Tuesday and Wednesday.
The issuer is a retail bank, commercial bank, private bank and financial services company with headquarters in Tel Aviv.
| Issuer: | Israel Discount Bank Ltd.
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| Amount: | $800 million
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| Issue: | Notes
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| Maturity: | Jan. 26, 2028
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| Bookrunners: | Citigroup, Barclays and Jefferies
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| Coupon: | 5 3/8%
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| Spread: | Treasuries plus 190 bps
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| Trade date: | Jan. 19
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| Ratings: | Moody’s: A2
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| Fitch: A
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| Distribution: | Rule 144A and Regulation S
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| Price guidance: | Treasuries plus 220 bps area, later tightened to 200 bps
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