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Israeli Bank Leumi Raises $721 Million in Bond Issue

Israeli Bank Leumi Raises $721 Million in Bond Issue

Sunday, 28 November, 2021 - 11:00
Israeli Shekel notes are pictured at a bank branch in Tel Aviv in this August 29, 2011 photo illustration file picture. REUTERS/Nir Elias/Files

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, Reuters reported.

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

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