Ohio Treasurer Robert Sprague Announces $25 Million Israel Bond Purchase
COLUMBUS – Ohio Treasurer Robert Sprague today announced the purchase of $25 million in two- and three-year fixed rate Israel bonds.
“As we’ve said in the past, Israel Bonds continue to be a valuable investment for Ohio’s taxpayers,” said Treasurer Sprague. “Thanks to their competitive interest rates and strong record, we’re proud to continue Ohio’s long history of purchasing Israel Bonds.”
The bonds will mature in 2022 and 2023, and will yield 1.35% and 1.54%, respectively. Since Israel Bonds was established in 1951, Israel has maintained a perfect record of interest and principal payments.
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 $185 million in Israel Bonds, continuing Ohio’s standing as the largest state holder of these bonds in the United States. This purchase also will bring the Ohio’s 2020 purchases to a total of $70 million, which is the largest annual Israel bond purchase in state history.
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.