A large part of the total was raised by means of stock and bond
issues. The banks were key lenders. During 2004, Israeli companies
raised NIS 23.3 billion in bond issues, compared with NIS 11.8
billion in 2003. The entry of foreign investors and hedge funds into
the Israeli arena also facilitated the flow of money to corporate
Israel. Via offerings of shares and convertible instruments,
companies raised NIS 6.6 billion last year, compared with NIS 3.8
billion the year before.
During the year, Israeli companies repaid the banks NIS 1.4 billion,
compared with NIS 3.4 billion in 2003. In parallel, they borrowed NIS
1.2 billion from foreign banks, having repaid them NIS 2.7 billion in
2003, in net terms. (NIS 4.30 = $1.00)
2004, was a banner year for corporate Israel. The business sector
raised a NIS 50 billion ($11.6b.). The Bank of Israel research
department reported that the sum is nearly three times the amount
Israeli firms raised in 2003.