Middle East

Israel's Bank Mizrahi Tefahot to issue $1.1 bln of CPI-linked bonds

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A Mizrahi-Tefahot Bank logo is seen at a branch in Jerusalem August 29, 2011. REUTERS/Baz Ratner

JERUSALEM, Oct 19 (Reuters) - Israel's Bank Mizrahi Tefahot (MZTF.TA) said on Tuesday it would raise 3.6 billion shekels ($1.1 billion) through a bond issuance to institutional investors.

The series of bonds will be linked to the consumer price index with a set annual interest rate of 0.1%, the bank said in a regulatory filing in Tel Aviv. Demand for the issue had reached 4.86 billion shekels, it said.

Mizrahi Tefahot is Israel's third-largest bank.

($1 = 3.2117 shekels)

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Reporting by Ari Rabinovitch Editing by Steven Scheer

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