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Israel sells $3 billion bond as regional tensions abate

Israel has taken orders of $20 billion for its first Eurobond of the year, despite the deadly strike on an Iranian general that threatened to push simmering Middle Eastern tensions to boiling point in early January.


Just days after a deadly airstrike on Iranian general Qassem Soleimani shook the markets, Israel sold a $3 billion Eurobond to investors who say that, despite early fears of an imminent escalation, regional flare-ups are just an everyday part of investing in the region.

Israel, rated A1/AA-/A+, launched a $1 billion 10-year bond at 68 basis points over Treasuries and a $2 billion 15-year bond at 115bp over on January 8 with orders for the deal topping $20 billion, according to a lead manager.

The US killing of general Qassem Soleimani in Iraq on Friday January 3 marked what commentators said was the most serious flare-up in regional tensions in recent years. Iranian forces retaliated by firing missiles at US troops in Iraq on January 8.

Koon Chow 160x186

Koon Chow, UBP Asset Management

But despite an initial turn to safehaven assets that prompted gold and oil prices to spike, broader financial markets proved resilient, providing a supportive market for Israel to sell its Eurobond. 

The sovereign is a regular on the international markets and tends to print deals in January.

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