Published On: Tue, Apr 8th, 2014

Delek Group units, Dor Gas to raise $570 million bond in US

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The Petroleum Council has allowed the companies to place a lien on their Tamar rights.
Delek Group Ltd. (TASE: DLEKG) and Alon Natural Gas unit Dor Gas will raise a NIS 1.8-2 billion (about $570 million)  bond at the end of April from institutional investors in the US. The plan was announced after the petroleum council yesterday gave approval to Delek Group’s energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) and Dor Gas to place a lien on their rights to the Tamar field.

This will be the largest-ever offering of its kind by Israeli companies in the US.

The offering will be led by JP Morgan, HSBC and Citi.

Published by Globes [online], Israel business news – www.globes-online.com 

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