Ministry of Finance Accountant General Yali Rothenberg completed the global issue of a $6 billion bond yesterday. The offering achieved spreads close to those that prevailed before the outbreak of the Swords of Iron war in October 2023, with a weighted spread of 102 basis points above the equivalent US Treasury bond. This represents an improvement of 34% in comparison with the international issue carried out last year, in which the weighted spread was 154 basis points.
RELATED ARTICLES
Israel to raise debt abroad after fall in risk premium
IsraelÂ’s fiscal deficit again narrowing
Bank of Israel unexpectedly cuts interest rate
Three series of bonds were offered, with tenors of five, ten, and thirty years, and with spreads of 90, 100, and 125 basis points in comparison with their respective equivalent US bonds. Demand for the offering totaled $36 billion, six times the amount actually raised. Some 300 investors from over 30 countries participated.
“The results of the offering reflect a return to the levels of spreads before the war,” said Rothenberg, who completes his term at the end of this month.
The offering took place against a decline in Israel’s risk premium in recent months, stemming at least in part from the calmer security situation. The accountant general has usually carried out an international debt offering at the beginning of each year, and it has usually been the only such offering in the course of the year, although the Ministry of Finance retains the possibility of making further offerings in accordance with market conditions and financing requirements.
Yesterday’s offering was underwritten by Citi, Goldman Sachs, Deutsche Bank, Bank of America, and JP Morgan.
Published by Globes, Israel business news – en.globes.co.il – on January 7, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
