Israel
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Bank and corporate issuance from the country has surged in 2026 -
Israeli issuer called its previous tier two early last year
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Banks ready to do deals but wiser to wait
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◆ Bank placed bond at 68bp over mid-swaps after large tightening◆ Banker said bond priced inside Israeli sovereign ◆ Issue offered ‘savings versus seniors’
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Demand for a senior trade from Israel was high on Wednesday
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Israel banks have been absent from international markets since before the war in Gaza
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Israel's biggest bank by assets picked Barclays, Goldman Sachs, JP Morgan and UBS as bookrunners
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The trade is Israel's first since October's fragile ceasefire
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The government has had no problem raising money in capital markets since October 2023
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The market is calm, said bankers and investors
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Higher than expected inflation sent yields more than 10bp higher
