Israel Announces New Jubilee Issue of Israel Bonds
In celebration of Israel's 50th anniversary, the nation's Finance Ministry has approved a new Jubilee Issue of Israel bonds that is now available for sale.
In announcing the new issue, Israel Bonds National Campaign Chairman Irwin Hochberg called the commemorative bonds "a perfect way to establish a personal connection with Israel during this historic anniversary year."
Bonds President and CEO Gideon Patt added, "From the first Independence Issue in 1951, Israel bonds have been closely identified with Israel's extraordinary economic progress. Investment in the new Jubilee Issue will be an important means of continuing that legacy of success and achievement."
The Jubilee Issue is composed of two types of bonds: Series A, which has a five-year maturity, and Series B, which matures after 10 years. For bonds purchased March 15 through April 24, 1998, Series A bonds will have an annual interest rate of 6.30 percent and Series B bonds 6.65 percent. Initial subscriptions for both bonds are $25,000, with the fixed annual interest rate determined at the beginning of the sales period in which the bonds are purchased. Interest is paid twice yearly, in May and November.
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