Israel sold USD 2 bn of 10-year green bonds, marking the country’s maiden green bond issuance, Reuters reports, citing a Finance Ministry statement. The bonds were reportedly 6x oversubscribed, with USD 12 bn in demand from about 200 buyers in 35 different nations including the UAE. The bonds were sold at a 95 bps premium to the benchmark rate on US government bonds. Last November, the Israeli government announced a Green Bond Framework in accordance with the ICMA Green Bond Principles to support national environmental goals.

What they said: “The green bond issuance supports the government’s debt management strategy, and in particular the diversification of funding sources and the expansion of the investor base,” senior deputy to the Accountant General Gil Cohen told the newswire.

Advisors: Barclays, BNP Paribas, Bank of America Securities, and Citi were underwriters on the transaction.