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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 Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)

State Street Global Advisors, a subsidiary of State Street Corporation, announced that Saudi Arabia’s Public Investment Fund (PIF) has invested SAR 750 million ($200 million) in the newly launched SPDR J.P. Morgan Saudi Aggregate Bond ETF.

According to a statement released by the company on Wednesday, this fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). It is listed in both the London Stock Exchange and Germany’s Xetra, offering investors the opportunity to track government and quasi-government bonds denominated in either the Saudi Riyal or the US Dollar, including sukuk (Islamic bonds).

This investment aligns with the objectives of Saudi Vision 2030, representing a significant step toward enhancing the international presence of Saudi Arabia’s financial markets and attracting foreign investments. The fund is available to investors across several European countries, including Austria, Denmark, France, Germany, and Italy.

Commenting on the investment, Yazid Al-Humaid, Deputy Governor and Head of MENA Investments at PIF, said: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and fostering partnerships across global financial centers.”

CEO of State Street Global Advisors Yi-Hsin Hung emphasized that the launch of the fund is a significant milestone in providing innovative opportunities for investors while contributing to Saudi Arabia’s economic growth.