'Israel' borrowed $6bln via private investors to fund war on Gaza
Dani Naveh, chief executive of "Israel Bonds", says that most of the investment was derived from the US and Europe. | Since October 7, $6 billion has been borrowed by “Israel” through international debt investors, which included $5.1 billion across three new bond issues and six top-ups of existing dollar-euro-denominated bonds, and more than $1 billion of fundraising through a US firm. ● According to investors, they were issued in so-called private placements, during which securities are not provided to the public market but to select investors instead. The choice for private placement could be to increase funds for the war quickly or without garnering unwanted attention. ● Of two dollar bonds issued this month, “Israel” is paying coupons of 6.25% and 6.5% on bonds maturing in 4 and 8 years, which are much higher than benchmark US Treasury yields ranging between 4.5% and 4.7%, arranged by Goldman Sachs and Bank of America respectively when the bonds were issued. [...] It is significant to note that Galit Altstein wrote for Bloomberg News that the ongoing war on Gaza is causing the Israeli economy significant losses, estimated at about $260 million daily.