Bank of Jerusalem completes NIS530m mortgage-backed securitization
Bank of Jerusalem has completed its third private mortgage-backed securitization, involving a portfolio of mortgage-backed loans totaling approximately NIS 530 million.
The transaction was structured through the issuance of senior notes, mezzanine notes, and subordinated notes to institutional investors. The senior notes received an international AA- rating from S&P, reflecting the structure of the transaction and the quality of the underlying mortgage portfolio.
The deal builds on Bank of Jerusalem’s earlier securitizations and further establishes the bank as the first and only Israeli bank issuer active in the local securitization market.
Herzog represented Bank of Jerusalem in the transaction, with a team led by Natalie Jacobs, Elina Shechter, and Moshe Katz Asayag.
