Mizrahi-Tefahot to raise up to NIS 1.5b in bonds

Mizrahi Tefahot Photo: Eli Yizhar
Mizrahi Tefahot Photo: Eli Yizhar

S&P has rated the bonds AAA.

Less than a week after publishing its 2016 financial results, Mizrahi Tefahot Bank (TASE:MZTF) is embarking on a bond issue. The bank plans to issue two bond series totaling up to NIS 1.5 billion.

The issues are extensions of existing series. One is a Series 40 shekel bond with a duration of 7.26 years bearing 2.98% interest. The issue is to take place at a price reflecting a maximum yield of 3.04%. The second is a Series 41 bond with a duration of 4.87 years, bearing 2.47% interest. The issue is to take place at a price reflecting a maximum yield of 2.34%. The tender for investment institutions is scheduled for this Thursday. S&P has rated the bonds AAA.

Published by Globes [online], Israel Business News - www.globes-online.com - on March 26, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Mizrahi Tefahot Photo: Eli Yizhar
Mizrahi Tefahot Photo: Eli Yizhar
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