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| 24/2/2010 |
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| Business Sector Debt December 2009–January 2010 |
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| The business sector's outstanding debt decreased |
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The total outstanding debt of the business sector decreased in December by about NIS 5.5 billion (0.8 percent). Bank debt and nontradable debt declined by about NIS 7.5 billion, compared with an increase of about NIS 2 billion in debt via bonds and debt to abroad. |
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In 2009 outstanding debt of the business sector declined by about NIS 8.5 billion (1.1 percent), and reached NIS 735 billion. The reduction was the result of net repayment of bank debt and nontradable debt, partly offset by new net debt via the issue of tradable bonds in Israel. |
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| Issues of bonds |
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Business sector bond issuance in January totaled about NIS 1.8 billion, slightly below the monthly average of NIS 2.2 billion in 2009. |
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In the whole of 2009 the business sector issued about NIS 26 billion of bonds, of which some NIS 19.5 billion were tradable on the Tel Aviv Stock Exchange (TASE). For comparison, in 2008 the business sector issued a total of NIS 9.8 billion in bonds, of which NIS 6.1 billion were tradable. |
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| The cost of the debt |
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The average rate of interest on unindexed bank credit increased by 0.13 percentage points in December. The margin between interest on credit and that on deposits in the unindexed sector remained basically unchanged, however, as interest on unindexed deposits increased buy a similar amount. |
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In December the downward trend in the spread between corporate bond yields (the Tel-Bond 60 index) and government bond yields continued, with a 0.4 percentage point decline to 2.27 percentage points. In the whole of 2009 the spread contracted by 2.8 percentage points. |
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