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PR03-01-005 |
January
15, 2003 |
Contact: Press
Office |
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212-669-3747 |
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COMPTROLLER
THOMPSON ANNOUNCES $5 MILLION
STATE OF ISRAEL BOND PURCHASE BY
TEACHERS' RETIREMENT SYSTEM
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| New York City
Comptroller William C. Thompson, Jr. announced today on behalf of
the Teachers' Retirement System (TRS) the purchase of $5 million of
State of Israel LIBOR floating rate bonds. The bonds, which were purchased
from the Development Corporation for Israel, have a final maturity
of 10 years. This is the first direct purchase of bonds from the State
of Israel by the pension funds.
"The purchase of these bonds serves several purposes,"
said Thompson. "It will help to strengthen and diversify the
Teachers' Retirement System portfolio. In addition, this investment
assists the State of Israel and clearly shows our continued support,"
"Comptroller Thompson has made a great investment for New
York City by
demonstrating his confidence in Israel's economy and his solidarity
with
America's best friend and most loyal ally in the Middle East,"
said Joshua Matza, President and CEO of State of Israel Bonds.
The interest rate on the bonds will be adjusted each quarter based
on LIBOR, with interest paid on a semi-annual basis.
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