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Commentary & Deal Flow

NEW ISSUE: Israel Discount Bank € bmk 5yr CB; MS+73a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

ISIN

Guidance

Israel Discount Bank Ltd.

5yr

10-Sep-31

bmk

CB

Fixed

IL0012436585

MS+73a


Guidance: 5yr: MS+73a


  • Issuer: Israel Discount Bank Ltd.
  • Guarantor: Discount Assets – Covered Bonds Ltd.
  • LEI: 549300XWZ7BG5G23OF51
  • Expected Issue Ratings: Aa3 / AA- (Moody's / Fitch)
  • Issue Type: Covered Bond
  • Form of Covered Bond: Reg S, Registered. Global Covered Bond
  • Size: € Benchmark
  • Settlement Date: 10-Sep-26 (T+6)
  • Maturity Date: 10-Sep-31
  • Extended Maturity Date: 10-Sep-32
  • Coupon: [Ÿ] Fixed, Annual Actual/Actual (ICMA)
  • Business Day Convention: Following (unadjusted)
  • Redemption: 100%
  • Business Day: Tel-Aviv, T2
  • Denomination: €100k +1k up to and including €199K
  • Global Coordinator: Barclays Bank PLC
  • Joint Bookrunners: Barclays Bank PLC, BofA Securities, Citi (B&D), Deutsche Bank, Goldman Sachs International
  • Listing: Tel Aviv Stock Exchange (TASE-UP)
  • ISIN: IL0012436585
  • Delivery: TASECH. Book entry interests credited through TASECH and TASE Members
  • Governing Law: English Law; certain Transaction Documents are governed by Israeli law, as described in the supplemented Prospectus
  • Documentation: In accordance with the Issuer’s €1.5 billion Global Covered Bond Programme, with the supplemented prospectus dated 27-Aug-26
  • Selling Restrictions: There are restrictions on the offer, sale and transfer of any Tranche of Covered Bonds in the United States, the EEA, the UK and Israel. No initial sales of the Covered Bonds are allowed to investors incorporated in Israel. Other restrictions may apply in connection with the offering and sale of a particular Series of Covered Bonds as further set out in the Prospectus
  • Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professional clients (all distributions channels). No EU PRIIPs KID or disclosure document required by the FCA Product Disclosure Sourcebook has been prepared, as the Covered Bonds are not intended to be offered, sold, distributed or otherwise made available to EEA retail investors or UK retail investors
  • Timing: Today's business