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Israel to dual list dollar, euro bonds on Tel Aviv bourse

By Reuters News

JERUSALEM, Nov 1 (Reuters) - Israel said on Sunday it was listing four more series of foreign currency government bonds that trade internationally on the Tel Aviv Stock Exchange.

The Finance Ministry said the move would give Israeli investors access to foreign-currency government bonds through the local market, while deepening domestic bond trading and broadening investment options.

  • Israel's Finance Ministry said it would dual-list two dollar denominated and two euro denominated bond series

  • The dollar bonds mature in 2033 and 2035 and have $4.5 billion outstanding, while the euro bonds mature in 2032 and 2037, with €2.75 billion outstanding

  • Market making in the bonds will begin on Monday

  • Israel still has some 30 government series traded overseas, mainly over the counter

  • Three series have been dual-listed in Tel Aviv since 2021 but a market-making programme only began in June

  • Since June, turnover in the bonds has been 360 million shekels ($115 million), with a cumulative total of 4,389 transactions, the ministry said

  • "Increasing the number of series traded in Israel creates a further link between the State's activity in international debt markets and the local capital market," said deputy Accountant General Gil Cohen

  • Cohen said the Treasury would continue to monitor the development of trading and consider the listing of additional foreign currency bond series in Tel Aviv


    ($1 = 3.1383 shekels)

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