By Cristal Cody
Chicago, March 24 – Israel’s Mizrahi Tefahot Bank Ltd. sold a $600 million offering of 3.077% tier 2 notes due April 7, 2031 (A-/A) on Wednesday, according to a market source.
The notes priced with a spread of Treasuries plus 225 basis points after being launched with a spread in the Treasuries plus 250 bps area.
The notes come with five years of call protection.
Citigroup and Goldman Sachs are bookrunners of the Israel-based lender’s deal.
| Issuer: | Mizrahi Tefahot Bank Ltd.
|
| Issue: | Tier 2 notes
|
| Amount: | $600 million
|
| Maturity: | April 7, 2031
|
| Bookrunners: | Citigroup and Goldman Sachs
|
| Coupon: | 3.077%
|
| Spread: | Treasuries plus 225 bps
|
| Call features: | Five years
|
| Trade date: | March 24
|
| Ratings: | S&P: A-
|
| Fitch: A
|
| Price talk: | Treasuries plus 250 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
