NYS Common Retirement Fund buys $20M in Israel bonds

New York State Comptroller Thomas P. DiNapoli announced the Common Retirement Fund has purchased an additional $20 million in Israel bonds offered by Development Corporation for Israel.

DiNapoli’s office noted the bonds purchased by the fund have a 10-year maturity with a coupon of 5.96%, which equals a spread of +138 basis points versus the 10-Year Treasury at the time of purchase. The state pension fund has purchased Israel Bonds since the 1990s, and the new purchase brings its Israeli bond holdings total value to $267.8 million.

“New York State’s pension fund buys Israel bonds because we have confidence in the spirit of innovation and tenacity of Israeli people and in the strength of our investments there,” DiNapoli said. “In addition to providing a steady return for our pension fund’s members, Israel bonds help support one of our nation’s strongest allies. I am heartened that so many other public funds have stepped forward to purchase bonds and support Israel, the only democratic government in the region, during these tragic and challenging days.”