AUSTIN (KXAN) — On Thursday, Texas Comptroller Glenn Hegar announced a $45 million purchase of Israel bonds in addition to a previous $20 million purchase last month, a news release from the comptroller’s office said.
According to the comptroller’s office, the fixed-rate bonds mature in three years, as well as carry an interest rate of 5.4%.
“I am pleased to be able to continue supporting Israel,” Hegar said in the release. “They are a friend and ally of Texas, and we are proud to stand by them and provide support as they defend themselves. Israel is also a reliable counterparty, and their perfect record of interest and principal payments make this a solid investment for Texas.”
The state has invested in Israel bonds yearly since 1994 and currently holds about $140 million in said bonds, according to the comptroller’s office. Furthermore, the release said Israel started selling bonds in 1951.
Texas has purchased $185 million in Israel bonds since Hegar took office, according to the comptroller’s office.