Rates & Bonds

Israel's Bank Leumi raises $721 mln in bond issue

1 minute read

JERUSALEM, Nov 28 (Reuters) - Bank Leumi (LUMI.TA), one of Israel's two largest lenders, said on Sunday it raised 2.3 billion shekels ($721 million) in a bond offering to institutional investors and the public.

Leumi issued two new bond series - a six-year and eight-year, which will yield 1.02% and 0.75%, respectively, Leumi said. Demand for the issues reached 5 billion shekels, it said.

The bonds are rated "AAA" by Standard & Poor's Maalot.

Earlier this month, Leumi reported a more than doubling of third-quarter net profit to 1.55 billion shekels and said it would pay a dividend of 1.367 billion shekels, reflecting 30% of net profit from the first nine months of the year. read more

($1 = 3.1886 shekels)

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Reporting by Steven Scheer, Editing by Louise Heavens

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