Clal Capital
The company is engaged in issuing bonds and depositing the proceeds with Clal Insurance.
Analyses on Clal Capital (3)
- March 26, 2026March 26, 2026
- Follow-up
Clal Capital Raising: The 2030-2036 repayment wall is a refinancing assumption, not a hard maturity schedule
The 2030-2036 repayment wall is not a legal maturity schedule but an economic refinancing scenario. For series 11 through 14, the company is modeling redemption at the point where not calling becomes more expensive, while for series 15 it models a first 2036 redemption even thou…
- Follow-up
Clal Capital Raising: What series 15 really is, and where write-down risk actually begins
Series 15 is not a plain long-dated bond but a COCO-style Additional Tier 1 instrument. Its real risk does not begin in 2075, but much earlier through coupon cancellation, principal deferral, and the fact that 2036 is the economic reset date at which the series can be called or…
Clal Capital Raising 2025: This is not about profit, it is about whether the market stays open
Clal Capital Raising is not a company to judge through profit, but a capital conduit for Clal Insurance. 2025 showed that the market is still willing to fund that conduit at scale, but the positive read depends on Clal Insurance’s solvency headroom, regulatory capital limits, an…
