| Bank POZITIF Successfully completed a $150 Million bond issue |
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| 10/26/2009 |
BankPozitif, a subsidiary of Bank Hapoalim in Turkey, has raised $150 million in a five year EuroBond issue at a rate of 7%. The issue will serve as a source to continue to develop the business activity of the Turkish bank. Demand for the bonds was high among international financial institutions and totaled USD 220 million. The bonds were purchased by private banking units of major banks worldwide as well as financial institutions, among which some are investing for the first time in Bank Pozitif, from Germany, France, Switzerland, Italy, and Holland. The issue was managed by JP Morgan, ABN-Amro, RBS, and Standard Bank.
Bank Hapoalim is very satisfied with the results of the issue and stated that the response to the issue from international investors emphasizes the confidence in Bank Hapoalim’s international strategy and particularly in Bank Pozitif.
About BankPozitif : BankPozitif, a subsidiary of Bank Hapoalim, is a Turkish bank specializing in services to retail banking customers and to corporate customers. The bank operates through branches and offices in 3 main cities: Istanbul, Ankara and Izmir. As at June 30, 2009, BankPozitif’s total assets amounted to $1,075 million, shareholder’s equity totaled $276 million and net profit (for the half year) totaled $11 million. |
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