Bank Leumi completes USD1b international bond offering
Categories: Banking & Finance
Bank Leumi completed an international issuance of CoCo bonds totaling USD 1 billion, marking another major cross-border capital markets transaction by an Israeli bank.
A bond series was issued for a term of 10.25 years, with a call option after five and at a 5.7% interest rate and 155 basis points spread, the lowest in the history of an Israeli bank issuance of CoCo bonds overseas. The issuance was led by major global investment banks including Goldman Sachs, J.P. Morgan, Citibank, Deutsche Bank, and Morgan Stanley.
Herzog represented Bank Leumi on the offering. The transaction was led by Ron Ben-Menachem, Irit Roth, and Mohammad Mawasi, together with Dr. Ehab Farah, Hillel Billauer, and Eden Ressler.
