Globes: Israel increasing bond issuing to cover wartime shortfall

The Finance Ministry's Accountant General office has stepped up raising money for the country through bonds, raising $8 abroad last night (between Tuesday and Wednesday), according to Globes.

Globes says that major financial institutions such as Goldman Sachs, Bank of America, and others had no problem serving as both buyers and underwriters. At least for now, Israel's ratings downgrade does not seem to have scared away investment as badly as originally feared.

The bonds are issued in three series: five years at 5.375% interest, 10 years at 5.5% interest, and 30 years at 5.75% interest.

Alongside this success abroad, some 85% of the money to be raised from bonds is expected to come from the local Israeli market.