Phoenix Financial, a leading Israel-based asset management, insurance, and financials group (TLV:PHOE) ("Phoenix," the "Group," or the "Company"), announced the successful NIS 600 million expansion of Bond Series 5 and 6, following a shelf offering published earlier this month.

The expansion optimized group capital position and liquidity. The transactions for Bond Series 5 and 6, both part of the Tel Bond 100 index, were priced at spreads of 0.82 and 0.72 basis points over the risk-free rate, respectively. The offerings were oversubscribed with total demand for NIS 1.2 billion.

Bond Series 5 is CPI-Linked with 2.54% yield and duration of 4.25 years, while Series 6 is not CPI-Linked with 4.99% yield and duration of 4.21 years.

Phoenix Financial maintains a strong balance sheet and financial position, with AA ratings from Israeli credit agencies Midroog (Moody's affiliate) and Maalot (S&P affiliate). Group subsidiaries include Phoenix Insurance Company, with strong Solvency ratio, Phoenix Investment House, Phoenix Agencies, and Phoenix-Gama.