The bond offering is partly to recycle $800 million debt taken to finance development of the Tamar natural gas field.
Yitzhak Tshuva shortly intends to raise almost $2 billion on Wall Street through a bond issue by Delek Energy Systems Ltd. (TASE: DLEN), capital market sources believe. The offering is partly intended to recycle $800 million in debt taken to finance development of the Tamar natural gas field, from which gas began to flow to Israel this month.
Well-informed sources say that JPMorgan Chase & Co. will be the underwriter for the offering.
Delek Group Ltd. (TASE: DLEKG) owns 86.71% of Delek Energy. Delek Group is seeking to delist Delek Energy from the Tel Aviv Stock Exchange, to simplify the structure of Delek Group's energy holdings. Delek Energy controls Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L), which own rights in the Tamar and Leviathan gas fields.
Published by Globes [online], Israel business news - www.globes-online.com - on April 22, 2013
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