'Cheap as chips' Israel brings first CEEMEA bond of 2017
Israel burst onto screens on Wednesday to open CEEMEA issuance for 2017. A popular name with investors, the 20bp premium offered at initial price thoughts seemed to go down well with the €6.5bn of orders submitted before lunch.
Deal watchers said that Israel was the perfect credit to open the market and noted that the inclusion of a 20 year bond in the dual tranche offering was a positive sign that investors were willing to take on duration even in this uncertain environment.
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