The cost of insuring exposure to Israel’s sovereign debt against default rose to its highest in almost 12 years, after a ramp-up of the country’s ground operations in Lebanon and an Iran missile attack raised fears the conflict could escalate sharply, Reuters reports.

Five-year credit default swaps for Israel jumped 10 basis points from their Tuesday close to 160 bps, their highest since November 2012, data from S&P Global Market Intelligence showed.