Tel-Aviv Stock Exchange Replaces Existing Tel Bond-Floating With The New All Bond Floating Index

The Tel-Aviv Stock Exchange announces that the Board of Directors of TASE has approved, in its recent meeting (August 17, 2021), the transition from the Tel Bond-Floating Index to the All Bond-Floating index, effective August 22, 2021.

Tel Bond-Floating Index is currently comprised of 6 bonds series and, following the Early Full Redemption of Delta Galil's Series B, the Index will comprise only 5 bonds series. Another bond series included in the index is planned to be fully redeemed in the coming months. There are no additional series of corporate bonds in the Tel-Bond Universe that meet the threshold criteria for inclusion in the index.

In order to ensure the proper functionality of the index and its usability as a tracking asset, the population of the index will be expanded to include government bonds bearing a floating interest rate as well as structured bonds.

In May this year, All Bond-Floating Index was launched as part of the new All Bond Indices family. This index is comprised of bonds, both government and corporate, that bear a floating interest rate. All but one of the bond series that comprise the Tel Bond-Floating index will be included in All Bond-Floating Index.

Accordingly, the rules that apply to Tel Bond-Floating Index will be aligned with the principles of the All Bond Indices. Tel Bond-Floating will be renamed: All Bond-Floating Index. At the same time, the existing Tel Bond-Floating index will be cancelled, to avoid overlap in light of the change.