Written by: Aaron Katsman | March 18, 2009
After initially trying to raise $500 million in a note offering, the Israeli Ministry of Finance is overjoyed at the fact that they are going to raise almost $8 billion. Giddy up!
According to Globes: “Capital market sources tell “Globes” that there is very strong demand for the Ministry of Finance’s 10 year dollar-denominated notes offering. Sources say demand surpassed $12 billion, and the issue was closed to new offers. Earlier reports had demand rising past $6 billion to reach $8 billion. The Ministry of Finance had planned to offer $500 million worth of notes today in New York. In light of the strong demand, market expectations are for Israel to sell $1.5 billion of the note.”
It appears that notes will price at a yield of 2.875% above the yield to maturity on 10 year US Treasury Notes. T-notes with that maturity closed yesterday at a yield of 3%, so that Israel’s notes will yield 5.875% per year.
Written by: Aaron Katsman | February 24, 2009
Fresh off her Sports Illustrated swimsuit edition cover, Israeli supermodel Bar Refaeli, is doing her patriotic duty, and will take a big pay cut to start in a campaign aimed at Israeli’s to conserve water.
According to Ynet: “Yedioth Ahronoth recently learned that Refaeli has agreed to participate in a campaign set to be released this summer that will urge people to save water. Since the campaign is being produced by a public body, the international beauty agreed to a modest pay of only several tens of thousands of shekels, a fraction of her usual salary in the industry.”
She may have never done her mandatory military service, but it’s nice to know that she will only be earning ‘tens of thousands of shekels’ for this ‘patriotic’ gig. Good to now that some people still only care about the good of the nation!
Written by: Aaron Katsman | January 28, 2009
How do you get rich living in Europe? Try selling made in Israel products to your neighbors. I have got to be kidding you are thinking. Well think again. Roger and Pieter van Oordt run a hot business selling only products made in Israel through catalogues and direct marketing.
According to an article in Ynet: “Pieter and Roger remember growing up with “Israel always in the background” and have visited the Jewish state several times both as children, and as adults with children of their own. The company is owned by the family, and also has some 300 investors from the Netherlands. The company sells products “that people really need”, the brothers said, through catalogues delivered throughout the country and other European nations, as well as door-to-door salespeople. The prices of Israeli products are relatively lower than similar European products, which has helped make them more attractive for local consumers. Products available at Israel Producten Centrum include wines, jams, bedding, cosmetics, jewelry, candles, spices, tea, clocks, and more. A total of 45 providers supply the store with hundreds of products, that bring in an annual return of €1.5 million (about $1.94 million).”
That’s great! It’s well known that Dutch Christians have always had a soft spot for Israel, and it’s great to see that they put their money where their mouth is. Click here to see their website.
Written by: Aaron Katsman | January 26, 2009
Facing a recession and looking for ways to find cheap financing, the State of Israel Bonds successfully raised about $125 million in Boca Raton. That should make members of the treasury happy as this was the kick off event for the Bonds.
What I don’t really understand for investors is why go the route of Israel bonds? Not that beggars can be choosers, but why not try some direct investment into the Israeli economy? $125 million can create a ton of jobs, new businesses, and return on investment. Why are donors happy with getting a minimal return when they can do so much more by really investing, and getting potentially, much higher returns?
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