Zur Shamir Successfully Completes Institutional Tender for New Bond Series
Zur Shamir has announced the successful completion of its institutional tender for the issuance of a new bond series (Series 13). The tender attracted strong demand totaling approximately NIS 569 million —nearly three times the planned fundraising amount.
The company chose to accept early commitments to purchase bonds amounting to approximately NIS 276 million. The tender closed with a fixed interest rate of 4.1%, reflecting a spread of 228 basis points (including the early commitment fee). This closing rate will serve as the maximum interest rate for the upcoming public offering, expected in the next few days.
Series 13 bonds are linked to the Israeli Consumer Price Index (CPI), carry an average duration of approximately 6.5 years, and will be repaid between 2029 and 2037.
Zur Shamir expressed its appreciation to the investors for their confidence in the company. The offering was led by Leumi Partners and Value Base Underwriting and Issuance Management , in cooperation with Apex Issuances and Migdal Capital Markets.
About the Company
Zur Shamir is a leading investment group active in insurance, financial services, income-producing real estate, and global financial services. Through Direct Insurance Financial Investments (holding an 88% stake), Zur Shamir owns approximately 49% of IDI Insurance Company, a pioneer in direct insurance in Israel, operating for over 20 years and recognized as the largest and most prominent player in its field.
The group also holds around 44% of Direct Finance, Israel’s leading company in car loans and a growing provider of mortgage financing. In the real estate sector, Zur Shamir owns about 53% of Adgar Investments & Development, which specializes in income-producing properties and holds assets valued at over NIS 5 billion. Additionally, Zur Shamir holds a direct stake of approximately 4% in Adgar.
Direct Insurance Financial Investments further owns 100% of Neema Shafah Ltd., a company engaged, among other activities, in providing global financial services, including money transfer services through a dedicated digital platform.
