TASE Launches New Index - Tel-Bond Yields
TEL AVIV, Israel, January 17, 2013 /PRNewswire/ --
The Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of TASE's new "Tel-Bond Yields" index, which will comprise of TASE-traded investment grade corporate bonds rated (BBB-) to (A).
For the first time, bonds rated (BBB+) and below will be included in a Tel-Bond index. Given their lower rating, the yield-to-maturity on these bonds tend to be higher than the yields on the bonds rated (A-) to (AAA), which are currently included in Tel-Bond indices.
The new index is scheduled for launch on 18 February and will include some 70 CPI-linked fixed-interest corporate bonds issued by about 47 issuers. The market cap of the index will be approximately NIS 45 billion.
It is anticipated that the launch of the new index and subsequent exchange-traded notes (ETNs) tracking the index, will increase the liquidity of the underlying bonds and will facilitate investors to diversify their bond portfolios.
For further information, you are welcome to visit TASE website at: http://www.tase.co.il or contact the TASE Marketing and Communications Unit: Idit \Yaaron or Orna Goren: at +972-3-5677405/6
SOURCE Tel Aviv Stock Exchange Ltd