April 14, 2019 / 7:13 AM / 8 months ago

Israel credit card firm Isracard raises 1 bln shekels in bond issue

JERUSALEM, April 14 (Reuters) -

* Isracard, Israel’s largest credit card company, said on Sunday it raised 1 billion shekels ($280.5 million) in a bond offering to institutional investors.

* Isracard said demand reached 3.3 billion shekels.

* The three-year bonds will pay annual interest of 1.49 percent and are rated Aa2 by Midroog, the Israeli affiliate of Moody’s Investors Service.

* Earlier this month, Bank Hapoalim spun off 65.2 percent of Isracard, which accounts for 45 percent of Israeli credit card transactions, in an initial public offering in Tel Aviv.

*

* ($1 = 3.5656 shekels) (Reporting by Steven Scheer; Editing by Tova Cohen)

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