Hapoalim raises USD 1 billion in green CoCo bond placement
Bank Hapoalim has completed the pricing in an international private placement with financial institutions of contingent convertible bonds (CoCo) amounting to USD 1 billion. Demand for the bonds totaled USD 2.6 billion.
In order to diversify the bank’s investor base and optimize its capital structure, Bank Hapoalim issued the bonds in accordance with the Green Bond Principles of the International Capital Markets Association (ICMA), the first issue of its kind in Israel.
This is the first ever green bond offering of an Israeli institution. The bank will use the proceeds of the offering to finance environmentally friendly projects in renewable energy, green transport, green construction, waste recycling, and energy efficiency.
The Meitar team representing Bank Hapolaim: Shachar Hadar, Yael Weiss, Avi Berk, Dr. Michael Bricker, Victor Terner, Bar Frige Stein, Mili Pinchas, Daniel Halfon, Yigal Elnatan and Ortal Admaso.
