WASHINGTON (Jul. 15)
Israel has filed $200 million of 20-year five and one-half percent dollar coupon bonds with the Securities and Exchange Commission here. The bonds, to mature serially from 1988 to 1991, will be sold through the Development Corporation for Israel, in New York City.
The Corporation said it does not expect conditions in the current bond market to influence plans for sale of the issue. The bonds will be permitted to be bought only by banks, labor unions and other institutional investors.
The new issue is a continuation of the First Development Investment issue of $100 million in 20-year four and three-quarter percent bonds which sold out after they were put on the market in March, 1966. The Second Development Investment issue is expected to sell out in about four years, the Development Corporation said.
Proceeds from the sale will be funneled to the development of aviation, agriculture, telecommunications and a variety of other industries, according to the Israel Government.