Delek Drilling Raises $2.25b Debt Amid $7b Demand

Published date04 September 2020
Subject MatterFinance and Banking, Energy and Natural Resources, Debt Capital Markets, Energy Law, Oil, Gas & Electricity
Law FirmYigal Arnon & Co
AuthorMr Omri Cohen

The bonds are guaranteed by a lien on the gas from the Leviathan offshore field in which Delek Drilling has a 45.34% stake.

Delek Drilling LP (TASE: DEDR.L) has raised $2.25 billion in debt overseas amid huge demand of $7 billion from foreign and Israeli investors. The bond offering was led by JP Morgan, and HSBC assisted in Israel by Leader, Barak Capital and Value Base who coordinated demand from Israeli investors.

Four series of bonds were issued repayable in 2023, 2025, 2027 and 2030. The bonds are guaranteed by a lien on the gas from the Leviathan offshore field in which Delek Drilling has a 45.34% stake.

The bond offering was boosted by...

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