White & Case with Discount Bank on $1.5 billion bond programme
White & Case advised Israel Discount Bank on the establishment of its $1.5 billion global covered bond programme and the issuance of $500 million covered bonds due 2031. The transaction marks the second time an Israeli issuer has offered covered bonds to international investors.
The bonds were offered under Regulation S and listed on TASE-UP, the Tel Aviv Stock Exchange’s dedicated segment. Barclays acted as global coordinator, with Goldman Sachs, Citi, Merrill Lynch and Deutsche Bank serving as lead managers.
Legal team
The White & Case team advising on the transaction was led by Debashis Dey, partner based in Dubai, and included associates Eren Ayanlar and Patrick Chindo, both based in Dubai, along with Yuning Zhou, based in Hong Kong. On the hedging workstreams, the team was assisted by Ingrid York, partner, Phillan Amin, counsel, and associates Lara Taylor and Sebastian Modos, all based in London.
