The company is engaged in issuing bonds and depositing the proceeds with Discount Bank.
Discount Manpikim ends 2025 with a better financing spread and a wider issuance ladder, but the real story remains the 2026 debt rollover cycle against only NIS 69.3 million of equity.
An equity ratio of 0.31% is a very thin buffer, but for debt holders the real question is not generic leverage. It is whether the match between deposits at the parent bank and issued liabilities keeps working with very little slippage.
The January 2026 funding ladder resolved an immediate bottleneck mainly by sharply widening the senior debt layer, but against more than ILS 9 billion of market liabilities due within a year it mostly bought time rather than a clean exit from the rollover cycle.
