Jan 11 (IFR) - The State of Israel has launched a dual-tranche offering of 10 and 20-year euro bonds, according to a lead.
The sovereign launched a 1.5bn shorter-dated note at 87bp over mid-swaps, the tight end of guidance. The notes were initially marketed at plus 95bp area, with guidance set at plus 87-90bp, to price in range.
Israel launched a 750m 20-year at 125bp over mid-swaps, in line with guidance. That compares to initial price thoughts of plus 130bp area.
Combined order books were in excess of 9.5bn with a skew towards the 10 year.
The deal is today's business. Bank of America Merrill Lynch, Barclays and Citigroup are the leads.
Israel is rated A1/A+/A+. (Reporting by Robert Hogg, Editing by Helene Durand)