#Israel #Tel Aviv #Phoenix Financial #Asset Management #Bond Series

Phoenix Financial Expands Bond Series Successfully

Phoenix Financial Ltd., a prominent asset management and insurance company based in Israel, has recently made headlines by announcing the successful expansion of its Bond Series 5 and 6. This strategic move, which involves an impressive NIS 600 million increase, is seen as a significant indicator of the company's robust financial positioning and market confidence.

Highlights of the Expansion

The expansion comes on the heels of a well-received shelf offering published earlier this month, which attracted significant attention. Phoenix Financial's Bond Series 5 and 6 are part of the prestigious Tel Bond 100 index, which further underscores their importance in the market. The bonds were priced at competitive spreads of 0.82 and 0.72 basis points over the risk-free rate, respectively, revealing a strong market enthusiasm with total demand reaching NIS 1.2 billion, effectively oversubscribing the offerings.

Bond Series 5 is linked to the Consumer Price Index (CPI) and offers a yield of 2.54% with a duration of 4.25 years. Meanwhile, Bond Series 6 provides a higher yield of 4.99% and has a slightly shorter duration of 4.21 years, as it is not connected to the CPI. This strategic diversity in offerings positions Phoenix Financial favorably within the competitive landscape of asset management and finance.

Financial Stability and Market Confidence

Phoenix Financial has consistently maintained a strong balance sheet and solid financial standing, reflected in its AA ratings from notable Israeli credit agencies, Midroog and Maalot. The group's business model is diversified through its subsidiary companies, including Phoenix Insurance Company, which boasts a strong solvency ratio, as well as Phoenix Investment House and Phoenix Agencies. This diverse portfolio not only contributes to their financial resilience but also enhances the company’s reputation among investors and the market at large.

Eyal Ben Simon, the CEO of Phoenix Financial, expressed his satisfaction regarding the successful expansion of the bond series. He noted, “The successful expansion of Bond Series 5 and 6 reflects market confidence in our financial position and growth potential. Building on our proven value creation and growth strategy, Phoenix continues to grow and deliver results across group businesses, further strengthening our strong balance sheet.”

A Leader in Asset Management

Phoenix Financial Ltd. has established itself as a leader in the Israeli finance and insurance sectors, managing approximately $140 billion in assets. The company not only serves a vast segment of Israeli households but also plays a vital role in the nation's economic activities through a robust investment portfolio. Their comprehensive approach to asset management, multi-line insurance products, and financial product distribution positions them as a trusted partner for clients and shareholders alike.

This successful expansion of the bond series illustrates Phoenix Financial's commitment to providing valuable investment opportunities while ensuring financial security and stability for its stakeholders. As the company continues to grow and innovate, all eyes will be on its future endeavors in the ever-evolving financial landscape.