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Israel government foreign currency bonds to trade on Tel Aviv bourse


A sign of the Tel Aviv Stock Exchange appears on the Tel Aviv Stock Exchange, Israel, November 4, 2020. REUTERS / Amir Cohen

Jerusalem, October 27 (Reuters) – Israeli foreign currency bonds issued by the government abroad will be listed for trading in Tel Aviv and abroad, the Ministry of Finance and the Tel Aviv Stock Exchange (TASE) said on Wednesday.

The listings will make it easier for investors to trade in bonds, transparency and relatively lower costs than in the past, they said in a joint statement.

It will expand the range of products available for trading on the stock exchange, increase the liquidity of government bonds and allow domestic and international investors, for the first time, access to these global products as part of the continuous and transparent trading on the stock exchange. “Said the stock exchange’s CEO Itai Ben Zeev.

As part of its debt raising program, Israel currently has 23 series of government bonds issued abroad – 13 series in dollars, seven in euros, two between Japanese and one in British pounds.

In its first phase, six of these series – three each of the bonds denominated in dollars and euros – totaling $ 4 billion and 7 billion euros ($ 8.15 billion) will be listed for trading in Tel Aviv as of October 31.

Trading in global bonds will be carried out in shekels, with the expected interest payments to bondholders being made in the currency in which the bonds are denominated.

Yahli Rotenberg, Israel’s Accountant General in the Ministry of Finance, said that the purpose of the move is to promote the capital markets in Israel and is expected to encourage liquidity and transparency and strengthen the investor base in Israeli government bonds.

($ 1 = NIS 3.2075) ($ 1 = 0.8593 euros)

Report by Stephen Sher; Edited by Christina Fincher

Our standards: The principles of trust of Thomson Reuters.



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