Israel

Israel rounded out an immensely successful opening week of 2019 for emerging market sovereign bond issues with its largest deal ever. The borrower raised €2.5bn of 10 and 30 year debt, pushing out its curve and printing at its tightest ever spread for a euro deal.

Israel hit the market on Wednesday with a dual tranche euro deal, looking to test demand at the long end of the yield curve. The country’s reputation as a quality issuer appears to have carried it through.

Israel has opened the CEEMEA primary bond market for the year, mandating three banks for a euro denominated 10 year and/or long dated benchmark Reg S note.

Shari Arison, the Israeli billionaire, increased the size of a share sale in Bank Hapoalim, the largest bank in Israel, to satisfy investor demand for the stock.

Arison Holdings, a vehicle for Shari Arison, the Israeli billionaire, has reopened the EMEA equity blocks market after the weekend with the sale of a 3.7% in Bank Hapoalim, the largest bank in Israel.

Berlin property company ADO Properties had planned to issue its second corporate bond in recent weeks, following a successful investor update. However, a high profile bribery case in Israel has put the deal on hold for now.

Israel Chemicals navigated a difficult market, which saw a pulled investment grade deal, to print a rare 20 year bond combined with a buy-back.

Israel Chemicals, a leading global specialty minerals and chemicals company, has named leads for a rare long dollar deal, combined with a tender offer.

The Singapore and Israel bourses have signed a pact aimed at spurring dual listings of technology and healthcare companies.

After four years away from the high yield market, UK North Sea operator Ithaca Energy was back with a bond refinancing deal this week, as European oil and gas issuance runs well ahead of last year’s pace.

HSBC has opened a China desk in Israel to capture the growing trade and investment flows between the two countries.

Energean, the Mediterranean-focused oil and gas exploration company, has managed to successfully price its IPO on the London Stock Exchange after restructuring the deal as a club sale to four investors.