COLUMBUS — News plans to purchase Israel Bonds have been announced by Ohio Treasurer Robert Sprague, according to a spokesperson from his office.
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This purchase will cost $20 million at a five-year, fixed rate.
“Now is the time to stand with Israel. For 30 years, Israel Bonds have been - and continue to be - a strong investment for the Ohio Treasury. We’re proud to make this $20 million purchase and provide desperately needed liquidity to Israel as they fight against these heinous acts of terrorism,” Sprague said.
On Oct. 1, 2028, the bonds will have had time to mature, and they will have an interest rate of 5.74%, the spokesperson said.
Israel Bonds were established in 1951, and since then, Israel has maintained an up-to-date record of interest and principal payments.
For 30 years, Ohio Treasurers have invested in Israel Bonds and joined more than 115 other state and municipal public employee and treasury funds, the spokesperson said.
After this purchase, the Ohio Treasury will hold $187.5 million in Israeli bonds.
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This will continue Ohio’s standing as one of the largest government holders of these bonds in the country.
Sprague’s total purchases total $227.5 million since taking office.
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