Israel's Delek, Avner raise $2B in bonds for Leviathan gas field

|About: Delek Drilling (DKDRF)|By:, SA News Editor

Delek Drilling (DKDRF) and Avner Oil (AVOGF) have raised $2B in international bonds that the companies will use to finance the development of the massive Leviathan natural-gas field off the coast of Israel.

The offering attracted demand of $13.5B and was over-subscribed by 650%.

Avner and Delek Drilling, which are subsidiaries of Delek Group (DGRLY), hold a combined 45.34% in Leviathon, while Noble Energy (NBL) owns a stake of 39.66% and is the field's operator. Ratio Oil (RTEXF) holds the remaining 15%; Australia's Woodside Petroleum (WOPEF) has agreed to buy 30% from the partners.

ETFs: GHYG, IBND, PICB, CEMB, GLCB