Israel Discount Bank completes inaugural EUR500m covered bonds offering
Israel Discount Bank has completed its inaugural EUR 500 million covered bonds offering to international investors.
The five-year bonds were issued at an interest rate of 3.875%, marking Israel Discount Bank’s entry into the international covered bonds market and providing the bank with access to a new funding channel backed by high-quality assets.
Covered bonds are commonly used by banks in global capital markets as secured debt instruments supported by a dedicated pool of assets. The offering reflects continued international investor interest in Israeli financial institutions and adds to the growing use of cross-border capital markets transactions by Israeli banks.
Herzog served as counsel to Barclays Bank in connection with the offering, with the team led by Irit Roth, Ron Ben-Menachem, Roy Nachimzon, Mohammad Mawasi, Nathan Adler, Hillel Billauer, and Dr. Ehab Farah.
