After a few days of reporting a standard annual profit, the Hapoalim bank is amazing while iron is hot and raised more than 3 billion New via two different debts: Coco (Coco Convertible) that reaches 25 years, and a 12 -month commercial paper.
Yesterday evening, Hapoalim completed the institutional stage of Coco bonds by expanding the current bond chain. One of the series is ripening in 25 years. The bank also issued a 12 -month commercial paper for the first time. The total demand was more than 5 billion New. The distribution was led by the Capital Commander.
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There was a great demand for the COCO chain, which the bank decided to fill 1.17 billion NIS. On long bonds, the spread of government bonds with similar conditions was 1.62 %, while the spread of the shorter bond was 1.28 %. The commercial paper also met with the high demand, the bank decided to fill 1.9 billion New, with a spread of 0.09 % on the Bank of Israel interest.
The general stage of the show is scheduled for Thursday. COCO bonds will be included in the bank's 2 -level capital, and will facilitate more growth in the bank's business as well as enhance the capital base for a long time.
After the financial crisis in 2008, Bonds Coco became a wide way to collect capital for banks. They behave like traditional bonds, but at the time of crises become convertible to property rights, which helps to enhance the liquidity of the source bank.
It was published by Globes, Israel Business News – En.globes.co.il – on March 5, 2025.
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