Financial institutions are continuing to buy corporate bonds. Dexia Israel (Public Finance) Ltd. (TASE:DXIL) today raised $250 million in the institutional tender of its bond offering. Dexia Israel lends to local authorities.
Dexia Israel received NIS 350 million in orders, and therefore decided to increase the total bond offering, including both the institutional and public tenders, to NIS 300 million. The shekel bonds bear 1.3% interest above the Bank of Israel interest rate, and have a duration of 2.9 years.
Standard & Poor's Maalot Ltd. gave the bond an AA- rating with a "Stable" outlook.
Dexia Israel wants to expand its business to the financing of infrastructure projects, with the help of its parent, Franco-Belgian bank, Dexia (Euronext: DXB; LSE: DEX).
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2010
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