Citi Becomes First International Financial Institution to Provide Local Public Offerings in Israeli Capital Market
Citi Now Licensed with the Israeli Securities Authority
Citi announced today that it has licensed with the Israeli Securities Authority (ISA) to underwrite public offerings in the Israeli capital market. Citi is now the first international bank to lead local public offerings following the new regulations approved by the ISA six months ago. Initially, Citi will be focusing its efforts on debt underwriting.
Citi is one of the leading global debt and equity underwriters and recently won IFR magazine’s Emerging Markets Bond House of the Year. In January 2006, Citi began to distribute corporate bonds to institutional investors in private placements in Israel. Since the launch of the private placement initiative, managed by Dudy Yakar, Citi has participated in 11 private placements with an approximate value of 10 billion NIS. Among those transactions were private placements for Africa, Israel, Israel Corporation, and IDB Group.
“Citi is focused on using its international distribution capabilities in support of the local corporate bond market,” said Ralph Shaaya, Citi Israel CEO. “This step allows us to enhance our efforts in bringing a broader range of products and services to the Israeli market.”
Citi Israel is one of the leading primary dealers in the local government bond market.
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