Israel's Bank Leumi raises $1.2 bln in debt offering

JERUSALEM: Bank Leumi, Israel's second-largest lender, said on Sunday it raised 4.6 billion shekels ($1.2 billion) in a public offering of debt.

The bank last week said it had received precommitments from institutions for nearly 4.3 billion shekels.

Since then, the public bought close to another 300 million shekels.

In all, the bank sold 3.6 billion shekels in bonds and another 926 million in contingent convertible bonds, also called CoCo bonds.

The notes will pay annual interest of 3.25 percent, while the CoCo bonds will yield 1.23 percent, Leumi said.