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Source: http://www.globes.co.il/serveen/globes/docview.asp?did=725455&fid=942
Competitive Tender Saves Israel $35M in Bond Offering
(Globes) Zeev Klein - Israel's Ministry of Finance saved about $35 million by managing last week's $1.6 billion bond offering in the U.S. through a competitive tender, cutting 0.2 percentage points from the cost of the offering. The bonds were rated AAA because they were backed by U.S. loan guarantees, and were purchased by some of the world's largest institutions, including investors outside the U.S., most probably from Europe and Japan.