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| 21.07.2010 |
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| Business Sector Debt May–June 2010 |
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| The business sector's outstanding debt remained unchanged |
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The total outstanding debt of the business sector did not change in May, and remained at about NIS 739 billion. |
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It remained unchanged despite the depreciation of the shekel, as a result of repayment of about NIS 4 billion of bank debt and of a similar amount of tradable debt. |
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Since the beginning of 2010 the debt of the business sector has increased by about NIS 2.5 billion (0.3 percent), mainly due to new bank loans net and the depreciation of the shekel by about 1.4 percent against the dollar. |
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| Issues of bonds |
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Business sector bond issuance in June totaled about NIS 2.8 billion, of which NIS 2.4 billion were tradable bonds. Total issues in June were higher than the monthly average of NIS 2.2 billion in the last twelve months, following the low level of issuance in May. |
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Since the beginning of 2010 the business sector issued about NIS 11 billion of bonds, most of which were tradable on the Tel Aviv Stock Exchange (TASE). |
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| The cost of the debt |
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The margin between interest on credit and that on deposits in the unindexed sector did not change in May, as interest on deposits and the interest on unindexed credit both increased by the same amount. |
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In May the spread between corporate bond yields (the Tel-Bond 60 index) and government bond yields widened by 0.3 percentage points to 2.04 percentage points, against the background of the increase in risk in the financial markets around the world. |
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