The state of Israel is not a frequent issuer in international bond markets, but it does like to maintain its access. It was in the market early in 2019 with its biggest ever international deal, including an inaugural 30-year bond in euros. Barclays, whose Israel team has had a long relationship with the sovereign, was a joint lead manager.
The relationship dates back to 1994, when US investment bank Lehman Brothers opened an office in Tel Aviv. After the bank's implosion in 2008, Barclays acquired its US operations. While the Tel Aviv unit was not part of the US business, the Israel team elected to join Barclays as well.
