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Israeli Bank Leumi Raises $721 Million in Bond Issue

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
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
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Israeli Bank Leumi Raises $721 Million in Bond Issue

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
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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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.