PA Treasurer Joe Torsella “Bonds” With Israel

Pennsylvania makes key investment by buying Israel Bonds


Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced Pennsylvania’s recent purchase of $11.8 million in Israel Bonds, expanding an investment that benefits both Pennsylvania and the State of Israel. The investment transaction as completed increased the total amount of Israel Bonds in the Pennsylvania Treasury portfolio to $40 million.


Bonds that the Pennsylvania Treasury had previously purchased totaling $9.8 million had matured, allowing it to reinvest in Israel Bonds. Treasury reinvested the $9.8 million in Israel bonds and added $2.0 million to bring the Commonwealth’s total investment to $40 million, the most it has held since 2015, and providing a yield of 2.67 percent.


“To fulfill our mission of building the financial security of the Commonwealth, we are always searching for the best investments to make on behalf of Pennsylvanians. Increasing our holdings of Israel Bonds represents a fresh approach to an investment that the Pennsylvania Treasury has made for a long time.

Israel Bonds are in keeping with Treasury’s criteria of offering an above-market yield and a high level of security, meaning they are a dependable investment."


Pennsylvania Treasurer, Joe Torsella

He cited Israel Bonds’ perfect record of repayment of interest and principle on time and added “that is very attractive to us as an investor.”


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Every Pennsylvania Treasurer since 1993 has invested in Israel Bonds, and Pennsylvania is one of over 90 state and municipal public employee pension and treasury funds who have invested more than $3 billion in Israel Bonds as part of their investment strategy.


“The Israeli economy is recognized as one of the most vibrant in the world. The Bonds have allowed Israel to develop some of the most highly acclaimed technologies worldwide, including advancements in medicine, from which we all benefit. Israel shares common values with the United States, including its love of freedom and democracy along with honoring basic rights and civil liberties. An investment in Israel Bonds is one made with confidence and commitment.”


Pennsylvania Treasurer, Joe Torsella

Israel Bonds, officially known as Development Corp. for Israel, was established in 1951 to underwrite securities issued by Israel’s Ministry of Finance. It ranks among Israel’s most valued economic and strategic resources, according to israelbonds.com. Since its inception in 1951, it has never missed a payment on principle or interest.


Worldwide sales since the first bonds were issued in 1951 exceed $36 billion, their website indicates.

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