The series will comprise two types of bond. Each will involve a minimum investment of $25,000 for a single bond.
Israel Bonds is set to issue a new series of bonds called "Jubilee", on the occasion of the State of Israel’s 50th anniversary celebrations, Israel Bonds president Gidon Pat told "Globes" today.
The series will comprise two types of bond. Each will involve a minimum investment of $25,000 for a single bond. The series will be issued for periods of five and ten years. These bonds will replace the ten year bonds which carried an option for redemption after five years on 120 days notice.
Interest on the bonds will be fixed for their whole tenor, and will be paid twice a year. At this stage, annual interest on the five year bond has been set at 6.3%, and on the ten year bond at 6.65%.
According to its figures, Israel Bonds sold $985 million worth of bonds in 1997. Since it began, Israel Bonds has sold bonds to an overall value of $18 billion. Next month, Israel Bonds will hold an international leadership get-together in Israel, as part of the Jubilee celebrations.
Published by Israel's Business Arena March 25, 1998