300-million-euro Bond Issue in the Works

The treasury is to complete a 300-million-euro bond issue to institutional investors in the European market. The bonds will mature in seven years. The issue was managed by UBS Warburg Merrill Lynch. Although Israel's international rating has not changed in recent months and is still A- despite the economic and security crisis, the treasury may have to sell at lower prices than planned. The treasury spokesman would not provide any details about the bond issue yesterday. A senior treasury source confirmed that official information will be provided today about whether the issue will take place and at what terms. ()