The New York State Common Retirement Fund has purchased an additional $20 million in Israel bonds offered by Development Corporation for Israel, New York State Comptroller Thomas P. DiNapoli announced today. The purchase brings the state pension fund’s holdings in Israel bonds to $267.8 million.

“New York state’s pension fund buys Israel bonds because we have confidence in the spirit of innovation and tenacity of Israeli people and in the strength of our investments there,” DiNapoli said. “In addition to providing a steady return for our pension fund’s members, Israel bonds help support one of our nation’s strongest allies. I am heartened that so many other public funds have stepped forward to purchase bonds and support Israel, the only democratic government in the region, during these tragic and challenging days.”

New York joined Pennsylvania, Florida, Illinois, Texas, Ohio and other public U.S. funds in purchasing $150 million in Israel bonds in recent days.

“The extent to which New York has supported Israel is incredible, aligning with the immediate response across many U.S. states during this crucial period for the Jewish state,” said Israel Bonds President and CEO Dani Naveh. “At a time when Israel is under attack, these investments represent the most powerful and direct way to stand with the State of Israel and its people.”

Israel Bonds have provided New York state’s pension fund with an attractive yield over the years. The bonds purchased by the fund have a 10-year maturity with a coupon of 5.96%, which equals a spread of +138 basis points versus the 10-Year Treasury at the time of purchase.

The state pension fund has purchased Israel Bonds since the 1990s. As of October 2023, the state pension fund’s Israeli bond holdings total value is approximately $267.8 million. Israel Bonds are backed by the full faith and credit of the state of Israel.

“The message from the people of New York to the people of Israel is that you are remarkable-resilient and so strong. Continue to stand strong and you will never stand alone and we will always be standing with you.” said Howard L. Goldstein, US and International chairman of the board of directors for State of Israel Bonds. “The Empire State has continually demonstrated that it strongly stands with the Jewish State today and forever. Israel bonds has proven time and time again that it is a crucial component of Israel’s financial wellbeing.”

The state’s pension fund has total investments in Israel of approximately $1.5 billion across asset classes.

For 72 years, Israel Bonds has generated $49 billion worldwide, across all Bonds affiliates, in financial support for the building and development of every sector of Israel’s economy. Israel bonds are a smart investment, with strong rates, and are meaningful investments, serving as a symbolic connection with Israel and the people of Israel for Jews worldwide. For more information, visit www.israelbonds.com.