Israel completes its largest-ever bond issue

Binyamin Netanyahu reported on Wednesday that the $5bn debt raised by Israel was oversubscribed five times attesting to the markets’ faith in the robustness of its economy. The issue included Israel’s first ever 100-year bond paying annual interest rates of 4.5pc. It is intended to help pay for the NIS 80bn ($2.2bn) economic aid package pledged by the government to relieve the hardships suffered by broad sectors as a result of a near nationwide lockdown against coronavirus.