We advised Mizrahi Tefahot Bank on a Rule 144A / Regulation S Tier 2 subordinated debt offering

Davis Polk advised Mizrahi Tefahot Bank Ltd in connection with a Rule 144A / Regulation S offering of $750 million aggregate principal amount of Tier 2 subordinated notes due 2036. Mizrahi Tefahot Bank intends to use the proceeds from the offering for its general corporate purposes.

Mizrahi Tefahot Bank Ltd, listed on the Tel Aviv Stock Exchange, is engaged in commercial banking (business and retail) as well as mortgage activities in Israel. The Mizrahi Tefahot Bank Group is one of the five largest banking groups in Israel based on the value of its total assets and is the largest mortgage provider in Israel.

The Davis Polk capital markets team included partners Reuven B. Young and Michael Kaplan and associate Shelby Young. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team are based in the London and New York offices.

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