Ohio Treasurer Robert Sprague Announces $35 Million Israel Bond Purchase
COLUMBUS – Ohio Treasurer Robert Sprague today announced the purchase of $35 million in five-year fixed rate Israel bonds.
“Over the past three decades, Israel Bonds have proven to be a strong financial investment for Ohio’s taxpayers,” said Treasurer Sprague. “The highly competitive interest rates of these bonds make them a valuable investment and we’re proud to be continuing this practice in 2020.”
The bonds will mature in 2025, and $28 million of the purchase will yield 2.28% while the remaining $7 million will yield 2.43%. Israel has maintained a perfect record of interest and principal payments since Israel Bonds was established in 1951.
Since 1993, every Ohio Treasurer has invested in Israel Bonds, joining more than 95 other state and municipal public employee pension and treasury funds. After the purchase, the Ohio Treasury will hold a total of $175 million in Israel Bonds, continuing Ohio’s standing as the largest state holder of these bonds in the United States.
Robert Sprague became Ohio’s 49th Treasurer of State on January 14, 2019, bringing to the office his extensive experience working on financial matters in both the public and private sectors. Under Treasurer Sprague’s direction, the office manages the state’s $20 billion investment and $10 billion debt portfolios, collects and deposits all state revenues, and oversees custodial assets.