TASE:LUMIBanks
Does Bank Leumi (TASE:LUMI)'s Debut Euro Covered Bond Signal A Strategic Shift In Funding?
In recent days, Bank Leumi became the first Israeli bank to issue covered bonds abroad, raising about €750,000,000 from European investors in a five-year series rated AA- by Fitch and Aa3 by Moody’s.
This deal not only diversifies Bank Leumi’s funding sources but also opens the Israeli banking sector to foreign covered bond investment for the first time.
With this highly rated covered bond issuance broadening its funding base, we’ll now examine how the move shapes Bank Leumi’s investment...