Israel taps MTNs to combat Covid-19
A pair of sovereigns hit the MTN market to raise debt this week, looking for cash to meet increased borrowing requirements as they grapple with the coronavirus pandemic. Israel came to the MTN market this week printing paper to helpfund its Covid-19 response, while Ireland ventured out to the ultra-long end of the curve to print its fourth century bond.
TheState of Israel, ratedA1/AA-/A+, tapped its 1.5% January 2029 note for €200m on Thursday to take the amount outstanding to €1.45bn. BNP Paribas priced the reopening at 101.616.The deal follows last week’s €500m tap of the state’s January 2024 bond, which was sole-led by ...
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